Microsoft becomes 3rd US company to hit $1 trillion market capitalization
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Microsoft becomes 3rd US company to hit $1 trillion market capitalization

Microsoft becomes 3rd US company to hit $1 trillion market capitalization

The tech giant is currently the most valuable US company in the country.

  • A strong Q3 fiscal year earnings report is to thank for reaching this milestone
  • Microsoft recorded $30.6 billion in revenue
  • "Microsoft shares jumped as much as 5.1% on Thursday" - CNBC

Apple beat you to it not too long ago, but you've finally made it, Microsoft. In fact you're now the US' most valuable company. 

The tech giant just made history as the third US company to reach this milestone, following in the footsteps of Apple which achieved this most-coveted accolade last August, while Amazon became the 2nd to reach it in the following month. Both Apple and Amazon have since dipped below $1 trillion, and the same could be expected of Microsoft eventually. 

What finally pushed Microsoft across the finish line was a bump in stock value triggered by a strong fiscal year Q3 report, which recorded $30.6 billion in revenue - an increase of 14%. Net income was $8.8 billion and increased 19%, while diluted earnings per share were $1.14 and increased by 20%. 

"Microsoft shares jumped as much as 5.1% on Thursday," CNBC said. "The stock needed to hit $130.51 to reach the trillion-dollar mark for the first time. It traded as high as $131.37, though it’s bounced around throughout the day."

"Microsoft’s stock price opened at $130 per share today, up around 4% from the $125 closing price yesterday," The Verge reported. "While the stock price will likely fluctuate a lot today, the company has hit the $1 trillion market during NASDAQ day trading hours this (US) morning."

"Cloud and Office continue to push Microsoft’s revenue in the right direction, but Xbox, Surface, and Windows have held their own this quarter to help drive some solid results," the news site said.


Author
Mark Anthony Karam

Mark Anthony Karam was an Editor at AMEinfo between 2018-2021. You can get in touch with him on LinkedIn here: linkedin.com/in/m-a-karam/

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