San Francisco, June 23 (SocialNews.XYZ) Tech giant Microsoft reached a $2 trillion market capitalisation in trading, joining a small group of global companies that have crossed that threshold -- including Apple.
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, AppleInsider reported.
Like Apple, Microsoft has benefitted from the work-from-home and remote education boom created as a result of the Covid-19 pandemic. Since March 2020, when lockdowns began, Microsoft's stock has surged 64 per cent.
Back in April, the company reported that its sales had risen 19 per cent 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, the report said.
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.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz