The software giant settled at $265.51 at the end of Tuesday’s trading session to close at exactly $2 trillion as it posted decent gains of about 1.1%.
This was the first time ever Microsoft will be reaching the $2 trillion milestones slightly after two years after it first passed the $1 trillion market valuation.
The Nasdaq listed stock closed at a record high Tuesday as macros revealed the Federal Reserve Chairman Jerome Powell in his most recent testimony before Congress downplayed fears over the sharp pace of inflation, triggering tech stocks like Microsoft benefiting from the weakness in Treasury 10-Year bond yields, remaining below 1.5%.
The tech juggernaut has outperformed Apple and Amazon.com Inc. with year-to-date gains of 19% as global investors piled into the prized stock asset on expectations of decent earnings and revenue, in sectors such as like cloud computing and machine learning.
The valuable tech giant co-founded 46 years ago by Bill Gates, the fourth richest man, and his close confidant Paul Allen has seen its cloud-computing business becoming a central force with about 34% accounted of Microsoft’s 2020 revenue with remote work becoming the norm in the global economy.
Recent fundamentals show the stock is about to smash its 52-week high of $265.79, posting yearly gains of about 34% with corporate Information. Technology spending gaining momentum at the post- COVID-19 pandemic.
A growing number of global investors have increased their buying pressures on the stock amid last week’s appointment of CEO Satya Nadella as chairman of Microsoft’s board further giving credence to his visionary leadership the digital transformation that came to play since his reign began in 2014.
The business leader is known for giving Windows away for free and shutting down Microsoft’s failing subsidiaries like Nokia, further freed up energy for promising domains (cloud computing and artificial intelligence) seems to pay off with the focus on empowering its customers.
This article was originally posted on FX Empire