In a historical achievement, Microsoft’s stock market value surpassed the $3 trillion mark, making it only the second company to ever reach that level.
The news saw Microsoft retain its position as the world’s second most valuable company, trailing very closely behind Apple.
The two rival companies have been engaged in a neck-and-neck battle for supremacy in the market since the start of the year, and for a short period, Microsoft surpassed Apple, making it the most valuable in the world.
Will Microsoft become the world’s most valuable company?
Microsoft’s shares hit a record high of $405.63 on January 24, marking a 1.7% increase and enabling it to become the world’s most valuable company at over $3 trillion. By the end of the day, shares dropped to $402.56, leaving it with a valuation of $2.99 trillion.
The company’s huge success has been largely put down to its heavy investments in artificial intelligence, including its decision to back ChatGPT-maker OpenAI. The investment positions Microsoft as a front-runner in the competitive and emerging landscape of AI, putting it ahead of rivals like Amazon and Google, even giving it a chance of surpassing Apple’s position as the world’s most valuable company more permanently.
Using OpenAI’s technology, Microsoft has been injecting generative AI into most of its core products, including a new search experience in Bing and the Copilot-branded worker aids within its 365 suite.
On the other side of the fence, speculation has it that Apple could be facing struggles as iPhone demand plummets in China, leading it to announce rare discounts on its popular smartphone.
Looking ahead, Microsoft will file its second-quarter results later this month, and more than 90% of the analysts being tracked by Bloomberg (via Yahoo Finance) recommend buying shares in the company.
Only time will tell whether Microsoft can solidify a position of the world’s most valuable company more permanently, but current projections make that an extremely plausible proposition.
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