Dominating businesses over the last decade or two are just a handful of companies and their market capitalisation shows that too. Today, we’re here to report one such historic moment for Microsoft that recently became only the second public listed company in the world to reach a $2 trillion market cap, after Apple got there only in August last year.
Overall, 5 companies have crossed the trillion-dollar mark and those are PetroChina, Microsoft, Apple, Alphabet (Google) and Amazon. It was only on Tuesday, 22nd June 2021 that Microsoft follow Apple in crossing the $2-trillion mark. The Washington-based tech giant’s stock was trading higher at 1.1% yesterday and has risen up more than 20% this year itself.
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Close to them now is Amazon, valued at $1.77 trillion (22nd June) and they will likely be the third company to reach this milestone. Ever since the pandemic last year, there’s been a growing demand for Microsoft’s cloud services as the world is trying to enforce new technology adoption. They recorded $41.7 billion in revenue for the March 21 quarter, which is up 19% from the same time period last year.
That quarter actually is their biggest revenue growth since 2018 and there’s plenty of growth yet to come in the near future. It was only last week that CEO Satya Nadella was also announced as the new Chairman of the company. “With workforces expected to have a heavy remote focus, we believe the cloud shift is just beginning to take its next stage of growth globally,” said Wedbush analyst, Dan Ives.
“We believe this dis-proportionally benefits the cloud stalwart out of Redmond, as Nadella and co are so well positioned in its core enterprise backyard to further deploy its Azure/Office 365 as the cloud backbone and artery,” he continued. This means we’re expecting many more some milestones from Microsoft in the months and years to come.
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