Microsoft reached a historic $3 trillion market valuation on Wednesday, becoming only the second company to hit the milestone after Apple.
Microsoft's stock rose as much as 1.3% to $403.95, resulting in a market capitalization of $3 trillion. The threshold cements Microsoft’s status as one of the largest public stocks. Last year, Microsoft briefly surpassed Apple Inc. in value — which became the first company to hit $3 trillion — but eventually dropped back below Apple Inc, with the two trading places ever since.
Microsoft is one of the so-called "Magnificent–7" that fueled the market’s advance over 2023, gaining about 57%. The advance continued into this year, with a7.4% rise that exceeds the 4.6% gain of the Nasdaq 100 Index. Microsoft accounts for 7.3% of the S&P 500 Index.
Before being dethroned by Apple in 2010, in 2018, Microsoft reclaimed its position as the most valuable publicly traded company in the world. In April 2019, Microsoft reached a trillion-dollar market cap, becoming the third U.S. public company to be valued at over $1 trillion after Apple and Amazon, respectively.
Earlier this month, Microsoft announced a subscription offering of artificial intelligence for small businesses via Copilot Pro.
Last November, Satya Nadella announced the former OpenAI CEO Sam Altman and former president and Chairman of Greg Brockman would join Microsoft to lead a new advanced AI research team. However, Altman returned back to OpenAI, in a series of events.
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