Tech News

Microsoft hits $2 trillion market cap for first time

Microsoft reached a brand new milestone Tuesday as the corporate’s market capitalization hit $2 trillion for the first time.

The Redmond, Wash.-based tech big trails solely Apple among the many world’s most respected corporations. Apple turned the first publicly traded U.S. firm to achieve the $2 trillion mark in August. Fellow Seattle-area big Amazon, valued Tuesday at $1.77 trillion, can also be approaching the $2 trillion membership.

Microsoft inventory was up 1.1% Tuesday and is up greater than 20% this yr.

The corporate continues to see rising demand for its cloud companies because the pandemic has accelerated expertise adoption. It beat quarterly expectations with $41.7 billion in income for the March quarter, up 19% year-over-year — its greatest income development since 2018 — and earnings of $15.5 billion, up 44%.

A Wedbush report final month projected extra development forward for Microsoft, with Azure’s cloud momentum “nonetheless in its early days” and the corporate “firmly positioned to realize extra market share vs. AWS on this cloud arms race.”

“With workforces anticipated to have a heavy distant focus, we consider the cloud shift is simply starting to take its subsequent stage of development globally,” Wedbush analyst Dan Ives wrote. “We consider this disproportionally advantages the cloud stalwart out of Redmond, as Nadella & Co. are so nicely positioned in its core enterprise yard to additional deploy its Azure/Workplace 365 because the cloud spine and artery.”

Microsoft additionally continues to invest heavily in its gaming enterprise; add new features to its Groups collaboration software program; and is staying lively within the M&A enviornment with its $19.7 billion acquisition of Nuance Communications and reported curiosity in Discord and Pinterest.

This week the eye turns to the corporate’s Home windows working system. Microsoft CEO Satya Nadella and Chief Product Officer Panos Panay are scheduled to talk at an event on Thursday the place Microsoft is promising to “unveil the subsequent technology of Home windows.” Axios reported Tuesday {that a} refresh of the desktop working system “can’t come quickly sufficient” as Home windows has misplaced market share to MacOS and Chrome OS over the previous decade. 

Microsoft has additionally been in a position to avoid the same regulatory scrutiny going through different tech giants together with Amazon, Apple, Google, and Fb.

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