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Microsoft Soars to $4 Trillion Market Cap, Joining Elite Club
30 Jul
Summary
- Microsoft's stock price jumped up to 9% after strong quarterly earnings
- Company is set to become the second firm to reach $4 trillion market cap
- Nvidia was the first company to hit the $4 trillion milestone earlier this month
In a remarkable achievement, Microsoft Corp. is poised to become the second company in the world to reach a staggering $4 trillion market capitalization. This comes after the tech behemoth reported quarterly earnings that handily beat Wall Street's forecasts, sending its stock price skyrocketing in extended trading on Wednesday.
Shares of Microsoft jumped as much as 9% to over $560 in late New York trading. If even a portion of this gain holds through Thursday's market open, the company will officially cross the $4 trillion threshold. Nvidia Corp. had previously become the first company to hit this historic milestone earlier this month.
Microsoft's impressive financial performance and surging stock price underscore the company's continued dominance in the technology sector. The Redmond, Washington-based firm has solidified its position as one of the world's most valuable and influential corporations, joining an elite club of companies that have reached the $4 trillion market cap milestone.
