Microsoft suddenly became the second in the United States to have a $2 trillion market value as its shares increased 1.2% in New York, only to fall just pennies short at close. Microsoft is now only second in ranking after Apple; Apple achieved the milestone in 2020.
The only other company in the world with such a market value is Saudi Aramco. It is the world’s largest oil company, which was valued at $2 trillion in December of 2019.
Microsoft has established its supremacy in cloud computing and software in recent months. It also announced this week that CEO Satya Nadella has unanimously been elected as the chairman of the board after guiding the business to those achievements while managing the challenges related to Covid-19.
According to Hilary Frisch, senior research analyst at Clearbridge Investments, Microsoft’s recent financial performance makes sense because the company “has its hands in a lot and it is doing it all well: gaming, cloud, automation, analytics, AI.”
“It is an attractively valued name within tech, and it should benefit from both the economy reopening as well as from a more pronounced shift toward the cloud.”