February 10, 2024
1 min read

Microsoft becomes most valuable company ever

The company’s market value topped the previous record set by Apple…reports Asian Lite News

Microsoft ended the week with a market capitalisation of $3.125 trillion, the highest for any company ever, Barron’s reported.

The company’s market value topped the previous record set by Apple, which reached $3.09 trillion in July. Apple ended Friday with a market cap of $2.916 trillion. Microsoft is also the first U.S. company to close with a market cap greater than $3.1 trillion, Barron’s reported.

Microsoft stock closed the week at $420.55. Over the past 12 months, its shares have soared 60 per cent, largely thanks to the enthusiasm about its artificial intelligence software.

The company last month reported quarterly revenue and profit ahead of Wall Street’s forecasts, and the management made note of the company’s AI gains.

“We’ve moved from talking about AI to applying AI at scale,” Microsoft CEO Satya Nadella said in a statement at the time.

“By infusing AI across every layer of our tech stack, we’re winning new customers and helping drive new benefits and productivity gains across every sector,” Nadella had said, Barron’s reported.

ALSO READ: India Targets $300B Electronics Production, $100B Exports

Previous Story

Imran’s Allies Sweep Pakistan Polls

Next Story

Pak Election Results Spark Political Horse-Trading

Latest from -Top News

Von der Leyen Faces Twin No-Confidence Votes

The two bids have one common thread which is criticism over the European Union-US trade deal and the disfavourable terms it has placed on European exporters….reports Asian Lite News European Commission President

India-EU Trade Talks Resume

The proposed India-EU FTA covers 23 policy areas, or chapters, of which at least two – market access and rules of origin – have yet to be resolved….reports Asian Lite News India

India Launches Relief Ops in Bhutan

The Royal Government of Bhutan has expressed sincere gratitude to the Indian Army…reports Asian Lite News Amid unprecedented floods caused by a low-pressure system over the Bay of Bengal, relentless rainfall has
Go toTop

Don't Miss

Google, Microsoft to use renewable energy in data centres

The move follows earlier agreements by both companies to buy

EU Presses Microsoft on Bing GenAI Compliance

The Commission has intensified its enforcement actions against Microsoft, giving