2024 has indeed been a happy new year for Microsoft. Just about two weeks after briefly becoming the world's most valuable company by overtaking Apple, Satya Nadella led-Microsoft has achieved yet another historic landmark.
For the first time ever, Microsoft has hit the $3 trillion market cap milestone. Co-founded by Bill Gates, Microsoft achieved the historic feat on 24th January, when, during US stock market trading hours, its market capitalization hit $3 trillion for the first time. Microsoft's shares ended nearly 1% up yesterday at $402.56, with its market cap closing the day at $2.99 trillion, just shy of the $3 trillion mark that it had hit on the same day.?
At present, Apple narrowly remains at number one rank in the world's most valuable companies' list with $$3.01 trillion market cap.
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Just two weeks after briefly overtaking Tim Cook's Apple as the world's most valuable company, Microsoft has joined the $3 trillion club which till now had only the iPhone maker in it. Until Microsoft achieved the feat yesterday, Apple had been the only company in the world to hit $3 trillion market cap, a milestone it has achieved not once but twice, in January 2022 ad June 2023, respectively.
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Microsoft becoming the world's second company to hit $3 trillion market cap is a prediction which US banking giant Morgan Stanley had already made last year. And now, the prediction has indeed come true.?In July 2023, Morgan Stanley's analysts had predicted that?Artificial intelligence?(AI)-driven gains can propel?Microsoft to join Apple in the $3 trillion category. Click here to know more about that prediction.
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