Microsoft approaches $2 trillion in market value as its stock hits record high
Microsoftis closing in on a $2 trillion market capitalization.
- It would be only the second US company after
Appleto pass that threshold.
- The computing titan's shares surged 60% in 2020 and are up another 17% this year.
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Microsoft could soon become only the second American company ever to command a $2 trillion market capitalization.The computing giant's stock price climbed more than 1% on Thursday, boosting its market cap to a record high of $1.9 trillion. If the shares rise another 5%, Microsoft would join Apple in the exclusive $2 trillion club.
Despite its recent gains, Microsoft isn't threatening to replace Apple as the most valuable US public company just yet. The iPhone maker's market cap stood at $2.2 trillion on Thursday, and briefly topped $2.4 trillion in January.
Microsoft, founded by Bill Gates and Paul Allen in 1975, has become one of the most powerful companies in the world. Its key products include its Windows operating system, Office software suite, Azure cloud-computing service, Surface tablets, and Xbox gaming consoles. It's also made several billion-dollar acquisitions including Skype, Minecraft-maker Mojang, and LinkedIn over the past decade.Read more: Goldman Sachs handpicks 40 stocks that will enjoy bigger earnings growth than Wall Street expects in 2021
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