Microsoft’s market capitalization jumped to $510.37 billion. It was the first time since 2000 when the value of Microsoft goes past the $500 billion thresholds. Microsoft’s shares had also reached an all-time high, rising no less than 2.1% to US$65.64.
Microsoft’s Market Value Tops $500 Billion Again After 17 Years
For the first time in 17 years, Microsoft’s market capitalization jumped to $510.37 billion. It was the first time since 2000 when the value of Microsoft goes past the $500 billion thresholds.
Previously, the tech giant topped $550 billion 17 years ago. Also, Microsoft’s shares had also reached an all-time high, rising no less than 2.1% to US$65.64.
According to the reports from Reuters, Microsoft’s profit and revenue have now topped Wall Street analysts expectation in seven of the last eight quarters, and it was all because of Satya Nadella.
Well, Microsoft’s CEO Satya Nadela was known for changing company’s focus from software to a wider range of products like cloud and devices. Satya Nadella helped the company to build more credibility around the areas such as cloud-based services, which are already generating substantial revenues every quarter.
With Satya Nadella at the helm, the company implemented new marketing tactics. Intelligent Cloud revenue was $6.9 billion which was increased to 8% the last quarter, and Azure revenues jumped no less that 93% from the previous quarter.
Satya Nadella said last week “Our customers see greater value and opportunity as we partner with them through their digital transformation. Accelerating advancements in AI across our platforms and services will provide further opportunity to drive growth in the Microsoft Cloud.”
However, Microsoft was still behind Apple and Alphabet in market capitalization. Both the companies have a market value of $642 billion and $570 billion respectively.
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