With a market value of $2 trillion (approximately Rs 1,48,50,100 crores), Microsoft became the second US Public firm in the firm market followed by Apple on the top. The company’s share reached 1.2 percent in New York on Tuesday. Before finishing pennies shy of the threshold at $265.51, join Apple as one of just two firms trading at such a premium value (roughly Rs. 19,700).
Saudi Aramco temporarily surpassed that milestone in December 2019, but now has a market capitalization of around $1.9 trillion (roughly Rs 1,41,13,490 crores).
Satya Nadella, took the position as CEO of Microsoft in 2014, which has transformed the Redmond, Washington-based business into the world’s largest supplier of cloud-computing software, including both its infrastructure and Office application cloud segments. Microsoft has been the only major US technology company that has escaped the latest wave of antitrust investigation from increasingly aggressive American antitrust regulators, allowing it to pursue acquisitions and product expansion more freely.
According to a statement from Telefonica SA, Microsoft will establish a new data center area in Spain, strengthening their strategic relationship.
Microsoft “has its hands in a lot and it is doing it all well: gaming, cloud, automation, analytics, AI,” said Hilary Frisch, senior research analyst at Clearbridge Investments. “It is an attractively valued name within tech, and it should benefit from both the economy reopening as well as from a more pronounced shift toward the cloud.”
People spend more time on their gadgets as a result of the COVID-19 epidemic, which increased technology use throughout the board. For tech businesses, this resulted in significant revenue growth, recurring income, and increased user penetration. Wedbush analyst Dan Ives upped Microsoft’s 12-month price objective to $325 from $310 on Tuesday, rating the stock “outperform.”
“With workforces expected to have a heavy remote focus, we believe the cloud shift is just beginning to take its next stage of growth globally,” the tech analyst said in a note.
“We believe this disproportionally benefits the cloud stalwart out of Redmond, as Nadella & Co. are so well positioned in its core enterprise backyard to further deploy it is Azure/Office 365 as the cloud backbone and artery,” he added.
Enterprise workloads on the cloud are anticipated to grow from 40% to 55% by 2022, according to Ives, with Amazon Web Services, Google, and IBM benefiting as well. Enterprise workloads on the cloud are anticipated to grow from 40% to 55% by 2022, according to Ives, with Amazon Web Services, Google, and IBM benefiting as well.