Microsoft joins Amazon and Apple in $1 trillion club
Microsoft joined the club of $1 trillion dollar companies.
On Thursday, the company's stock price opened at $130 per share, bringing its total market cap (the price of all of its shares combined) to over $1 trillion. It's the third company to achieve this somewhat mind-bending milestone, following Apple, which hit the mark in August 2018, and Amazon, which earned that valuation in September 2018.
The bump in value comes thanks to an impressive earnings report the company posted Wednesday. All three of Microsoft's divisions — hardware, software, and cloud and enterprise services — are pulling their weight. Microsoft's revenue for the quarter increased 14 percent over last year, for a total quarterly revenue of $30.6 billion.
Stock prices fluctuate often — Apple and Amazon have both since lost their T prize, and Microsoft's value was already just under $1 trillion as of 10:30 a.m. ET. The trillion dollar valuation is more of a milestone of flabbergasting confidence in these giant tech companies.