Microsoft Corp. will be the second company in the United States to close its trading day with a valuation of over $ 2 trillion on Thursday, Apple Inc. Joined the exclusive club of.
Trading on Thursday rose 0.5%, ending the day at $ 266.69 and giving tech giants a valuation of $ 2.009 trillion.Microsoft First surpassed $ 2 trillion in intraday trading on Tuesday But I couldn’t close on that mark.
It first recorded a $ 2 trillion valuation in August and is now worth more than $ 2.2 trillion.
Like many peers, Microsoft has benefited during the pandemic in the digital boom that has driven the demand for its Azure cloud computing platform and tools such as Microsoft Office and Microsoft Teams. The company’s personal computer business is also performing well due to the growing need for devices that can support telecommuting and school education.
The company announced an updated version of the Windows operating system on Thursday. For the first time in almost 6 years.. Windows 11 features an app store in collaboration with Amazon.com Inc.
According to Dow Jones Market Data, Microsoft’s market value reached its 2020 low of $ 1.03 trillion early in the COVID-19 crisis, but its share price closed on March 16, 2020. It has risen by more than 96% from $ 135.42.
The rise in Microsoft’s market value since the March 2020 lows is more valuable than Facebook.
Overall market capitalization, according to Dow Jones Market Data, as Facebook’s valuation recently reached about $ 973 billion.
Analysts remain bright about Microsoft’s outlook, with 33 of the 36 cover analysts tracked by FactSet holding a valuation equivalent to the purchase of shares. The average price target listed on FactSet is $ 294.73, which means an increase of about 11%.
Dow Jones Industrial Average averages 13.2% increase in market share over the past three months
It is up about 5.6%.
Microsoft closed with a valuation of over $ 2 trillion, making it the second largest company in the United States.
http://www.marketwatch.com/news/story.asp?guid=20C05575-04D4-B545-74C9-5AB23BD4EA01&siteid=rss&rss=1 Microsoft closed with a valuation of over $ 2 trillion, making it the second largest company in the United States.