Microsoft joins Apple by becoming the second tech company to hit the $2 trillion market cap
It hit the milestone for a brief period of time on Tuesday.
When Apple became the first tech company to hit the $2 trillion market cap in August 2020, many people speculated on what company would follow in its footsteps. Would it be Google? What about Microsoft? Well, we now have our answer.
For a brief period of time on Tuesday, Microsoft hit the coveted $2 trillion market cap after its shares rose 1.2% in value, according to Bloomberg. The outlet credits some of Microsoft’s meteoric rise to CEO Satya Nadella, which took the position in 2014.
Under Nadella, the company has managed to continue to grow its cloud-computing software and while companies like Apple and Google are getting hit with lawsuits and investigations, Microsoft has slipped through the cracks, “giving it a freer hand in both acquisitions and product expansion,” according to Bloomberg.
In addition, Microsoft has been crushing it with things like the Xbox and its game streaming service, xCloud. Combine that with trimming the fat on things like Internet Explorer and also its expansion into VR headsets for the military, and you begin to see why Microsoft has had such a stellar year.
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