Microsoft approaches $2 trillion in market value as its stock hits record high
- Microsoft is closing in on a $2 trillion market capitalization.
- It would be only the second US company after Apple to pass that threshold.
- The computing titan's shares surged 60% in 2020 and are up another 17% this year.
- See more stories on Insider's business page.
Microsoft could soon become only the second American company ever to command a $2 trillion market capitalization.
The computing giant's stock price climbed more than 1% on Thursday, boosting its market cap to a record high of $1.9 trillion. If the shares rise another 5%, Microsoft would join Apple in the exclusive $2 trillion club.
Microsoft is approaching the milestone thanks to its stock's recent outperformance. Its shares are up about 17% this year after leaping 60% in 2020. Moreover, they have surged more than five-fold since Satya Nadella replaced Steve Ballmer as the company's CEO in 2014.
Despite its recent gains, Microsoft isn't threatening to replace Apple as the most valuable US public company just yet. The iPhone maker's market cap stood at $2.2 trillion on Thursday, and briefly topped $2.4 trillion in January.
Amazon and Alphabet, which boast market caps of around $1.7 trillion and $1.5 trillion respectively, are also in the running to be the next $2 trillion company.
Microsoft, founded by Bill Gates and Paul Allen in 1975, has become one of the most powerful companies in the world. Its key products include its Windows operating system, Office software suite, Azure cloud-computing service, Surface tablets, and Xbox gaming consoles. It's also made several billion-dollar acquisitions including Skype, Minecraft-maker Mojang, and LinkedIn over the past decade.