GG News Bureau
NEW YORK, 12th Feb. Barron’s reported on Sunday that Microsoft ended the week with a market capitalization of $3.125 trillion, the highest for any company ever.
The company’s market value topped the previous record set by Apple, which reached $3.09 trillion in July, it said.
Barron’s reported that the company’s market value topped the previous record set by Apple, which reached $3.09 trillion in July.
Apple ended Friday with a market cap of $2.916 trillion.
Microsoft is the first US company to close with a market cap greater than $3.1 trillion, Barron’s reported.
Microsoft stock closed the week at $420.55. Over the past 12 months, its shares have soared 60 per cent, largely thanks to the enthusiasm about its artificial intelligence software.
The company reported quarterly revenue and profit ahead of Wall Street’s forecasts, and the management made note of the company’s AI gains.
Microsoft CEO Satya Nadella said in a statement “We’ve moved from talking about AI to applying AI at scale,”
Barron’s reported that “By infusing AI across every layer of our tech stack, we’re winning new customers and helping drive new benefits and productivity gains across every sector,” Nadella had said.