Microsoft hits US$2 trillion market cap as Azure soars

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Microsoft hits US$2 trillion market cap as Azure soars

Microsoft has become a US$2 trillion company, less than a year after archrival Apple reached the market capitalisation milestone.

The company hit the US$2 trillion market cap as its stock price grew roughly 1.1 percent to US$265.51 per share. This makes Microsoft the second US company and the second technology company in the world to reach that milestone after Apple became the first last August.

The milestone was made as Microsoft plans to unveil the “next generation” of its Windows operating system and as Azure cloud revenue continues to grow at a fast clip. In its most recent quarter, Microsoft said Azure sales were up 50 percent year-over-year thanks to pandemic-related tailwinds.

“We are building Azure to address organizations‘ needs in a multi-cloud, multi-edge world,” Microsoft CEO Satya Nadella said in a Tuesday call with analysts.

 

This article originally appeared at crn.com

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