Microsoft’s market valuation crossed $3 trillion
The stock, recently up 1.3% to above $404, has yet to close above that level, $403.65. Microsoft became a billion-dollar company in 1986, then crossed the $1 trillion mark in 2019 and $2 trillion two years later.
Tweet on Microsoft’s market cap
@Microsoft 's market valuation crossed $3 trillion for the first time Wednesday, the latest landmark that the nearly 50-year-old software has passed with increasing speed.#Microsoft #ai #markets pic.twitter.com/UJBkz6HcdU
— The_Journalbiz (@the_journalbiz) January 24, 2024
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Microsoft’s market valuation crossed $3 trillion for the first time Wednesday, the latest landmark that the nearly 50-year-old software has passed with increasing speed.
Its success in recent years has been driven by two factors: its growing Azure cloud computing business and, more recently, optimism that it will be one of the companies that will profit most from the spreading use of generative artificial intelligence.
The growth in Microsoft’s market value illustrates the sway large tech stocks have over much of the stock market. Its current market cap is greater than that of nearly 200 of the smallest S&P 500 companies combined, according to Dow Jones Market Data, as well as that of five of the benchmark index’s sectors.
Microsoft earlier this year dethroned Apple as the most highly valued, publicly-listed company in the world. Apple, which crossed the $3 trillion mark in June—it was the first company to do so—has faced concerns about its sales.
