Microsoft Finally in the Same League as Apple in terms of Market Capitalization
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Finally, after such a long time, a tremendous amount of effort, and many struggles, Microsoft has finally reached a new milestone. As per the latest reports, Microsoft has managed to hit and cross the $2 trillion market capitalization.
Now, Microsoft is in the most elite category where it is neighbor to only one other major company, which is Apple. Apple is the only company in the entire world that has already crossed the $2 trillion market capitalization mark.
There was a time when Aramco did manage to hit the $2 trillion mark but it was not able to maintain it. Therefore, only Apple is considered to be the company that has achieved it and then maintained it.
Saudi Aramco, the oil company had put its stock on the public board back in 2019. After its public listing, the company managed to hit the $2 trillion mark for a brief amount of time only to fall back. At the time of writing, the market capitalization of Saudi Aramco is around $1.88 trillion.
According to data, Microsoft successfully managed to hit and cross the $2 trillion market capitalization mark on Tuesday, June 22, 2021. However, by the end of June 22, it was again below the $2 trillion mark by $300 million. Therefore, by the end of June 22, 2021, the market capitalization of Microsoft was at $1.7 trillion.
The stats also show that the stock price for Microsoft also experienced an increase. As per figures, its stock price increased to $265.51 per share experiencing a 1.1% increase. Surprisingly, it has not taken much time for the tech giant to achieve its $2 trillion goals when it had reached its $1 trillion goals just two years back.
According to many market analysts, the pandemic seems to have played a huge role in helping the company hit the $2 trillion mark. During the pandemic, people had to stay at their houses and work from there. Therefore, people from all over the world had to purchase devices and different hardware to run operations from their houses.
This is what gave a boost to the sales of the tech giant in terms of devices and hardware. Then the other key factor that resulted in increasing their sales was their computing solutions that went through the ceilings.
The last major factor was the significant increase in the purchases of gaming systems and laptops. The factors combined, resulted in Microsoft achieving its $2 trillion marks within two years of hitting the $1 trillion market capitalization mark.
The company started recording a significant increase in its sales since the beginning of March 2020, and that is when the COVID-19 virus outbreak was pronounced as a pandemic. Since then, the stock price of Microsoft has gained a 64% increase.
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