Microsoft is now America’s most valuable company, ahead of the likes of Apple and Amazon, after crossing the $1 trillion valuation mark on Friday, 7 June.
On Friday, the company’s shares rose as much as 3.5 percent, pushing its market capitalisation to $1.01 trillion, a Bloomberg report said.
According to Quartz, the company’s share price has rocketed nearly 10 percent in the past four days to record levels. Stock prices surpassed the record closing of 30 April at $130.60, to catapult Microsoft’s market cap to $1.007 trillion.
The boost in the company’s market capitalisation comes on the back of its global cloud infrastructure, after the company missed out on the smartphone boom and failed to tap in on the search and social networking markets.
Microsoft CEO Satya Nadella, however, in an interview with Bloomberg, had said that he is not the one to celebrate market size, dismissing the valuation as “not meaningful” and said he would be “disgusted if somebody ever celebrated our market cap.”)
Though the stock prices are likely to fluctuate a lot today, Microsoft hit the $1 trillion mark during NASDAQ day trading on 9 June.
Not only fiscal earnings but Microsoft has also registered an unexpected growth in Windows earnings and a swift revenue rise in its cloud-based services which has reached billions of dollars in sales value.
Azure is Microsoft's flagship cloud product and has been competing with market leader Amazon Web Services (AWS) to provide computing power to businesses.
Currently, Microsoft’s valuation puts it above Apple as the world’s most valuable company. Apple currently stands at $980 billion.