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Technology Stocks : Microsoft Corp. - Moderated (MSFT)
MSFT 240.74+3.4%Oct 3 4:00 PM EDT

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To: Don Green who wrote (19555)6/22/2021 6:02:53 PM
From: Don Green1 Recommendation

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Microsoft becomes second U.S. firm to pass $2 trillion market cap


Microsoft reached a $2 trillion market capitalization in trading Tuesday, joining a small group of global companies that have crossed that threshold — including Apple.

The technology giant is now the second publicly traded U.S. company to reach a $2 trillion market valuation. Apple reached its own $2 trillion market cap back in August 2020.

Despite hitting $2 trillion in intraday trading on Tuesday, Microsoft's valuation was about $300 million shy of the high-water mark by the time markets closed. Its share price is currently sitting at $265.51 as of 5:23 p.m. Eastern time.

Like Apple, Microsoft has benefitted from the work-from-home and remote education boom created as a result of the coronavirus pandemic. Since March 2020, when lockdowns began, Microsoft's stock has surged 64%.

Back in April, the company reported that its sales had risen 19% year-over-year to $41.7 billion in the first quarter of 2020.

As of writing, Apple's market valuation standards at $2.24 trillion. Some analysts believe the Cupertino tech giant could become the first to hit a $3 trillion market cap within a few years.

Along with the technology giants, oil company Saudi Aramco also once surpassed the $2 trillion mark. On Tuesday, its market valuation was $1.88 trillion.
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