Microsoft Reaches $US2 Trillion Value As Apple Eyes $US3 Trillion
Apple made history recently when it became the second company ever to reach a $US2 trillion ($2.7 trillion) market value.
So it was little surprise today to see another tech giant become the third company ever to reach this milestone.
Microsoft’s shares rose 1.1 per cent on Tuesday, meaning the company started by Bill Gates in 1975 briefly eclipsed $2 trillion in market value.
It fell slightly before the close of trading, meaning it finished the day around $US300 million short of the $US2 trillion figure.
And according to investors, this value could continue climbing on the back of Microsoft’s dominance in cloud computing and enterprise software.
This growth has also coincided with the beginning of the pandemic and the shift to remote work, with Microsoft’s stock growing 64 per cent since March 2020.
The first company to reach $US2 trillion was oil business Saudi Aramco, which hit the figure in December 2019. However, its market value has since fallen to around $US1.88 trillion.
With Apple continuing to surge ahead on the back of its new M1 Chip and iPhone sales and Microsoft’s post-pandemic boom – the question is now who will be the first to reach $US3 trillion?
According to Loup Ventures’ Gene Munster, the incoming wave of 5G technology gives Apple a “clear path” to a $US3 trillion market value.
Analyst Daniel Ives also agrees, according to AppleInsider, and suggests Apple could hit $US3 trillion by 2022.
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