On Tuesday, technology giant Microsoft Corp saw its value rise to $2 trillion in intraday trading. This was a huge milestone for the company, even though the stock fell slightly. The technology company failed to end the session with its valuation at $2 trillion or more.
The company’s shares traded for as high as $265.79 which was slightly higher than the $265.55 price mark that is required to get to a market valuation of $2 trillion. Microsoft Corp’s shares ended the day pennies at $265.51 at a market valuation of $1.9997 trillion. This was based on a share count of 7.531 billion.
Apple Inc. is the only company that has closed a trading day with a market value of $2 trillion and above. Apple is worth $2.2 trillion and is the biggest company on earth by market capitalization. Microsoft is quite close to making a record which only Apple Inc. has been able to make and maintain.
Microsoft, as well as Apple and a long list of other technology companies, saw an increase in sales and demand for its products. Microsoft witnessed an increased demand for its workplace productivity solutions, personal computers (PCs), cloud computing services, etc.
The company was founded in 1986 by Bill Gates and Paul Allen. It started as a company that developed and sold BASIC interpreters for the Altair 8800. The company rose to fame with its MS-DOS which dominated the computer operating market in the 1980s. The American multinational company produces consumer electronics, personal computers, computer software, etc., and is famous for its Windows operating system, Microsoft Office Suite, and its Internet Explorer and Edge web browsers.
The company’s shares have gained 32.4 percent over the past year and the company is expected to hit the $2 trillion milestone again and maintain it this time.