Microsoft joined Apple Inc. in trading to reach a market capitalization of $2 trillion, joining an exclusive group of global corporations. In August 2020, Apple’s market capitalization surpassed $2 trillion.
Microsoft’s valuation was roughly $300 million shy of the high-water mark by the time markets closed, according to AppleInsider, despite exceeding $2 trillion in intraday trade.
Like Apple, Microsoft has benefitted from the work-from-home and remote education boom created due to the Covid-19 pandemic. Since March 2020, when lockdowns began, Microsoft’s stock has surged 64 per cent.
In April, the tech giant reported that its sales had risen 19 per cent year-over-year to $41.7 billion in the first quarter of 2020. Along with the technology giants, oil company Saudi Aramco also once surpassed the $2 trillion mark. Its market valuation was $1.88 trillion.
