Following a strong third-quarter earnings report, Microsoft became the second U.S. company to close Tuesday with a market capitalization exceeding one trillion dollars, closing in on its old rival Apple in its bid to reach this milestone. Amazon also briefly joined this elusive list last fall, but only surpassed the trillion-dollar mark during intraday trading and never finished a day above it.
By Thursday evening, Microsoft's valuation had fallen below trillion dollars, but it still holds a lead over Apple in the endless battle for the unofficial title of the world's most valuable company. After a long reign by oil and gas companies, technology firms have dominated this ranking in recent years, with all of the so-called GAFAM companies (Google, Apple, Facebook, Amazon, and Microsoft) experiencing a sharp increase in market capitalization over the past decade.
In the last five years alone, the five largest US technology companies have seen their collective market capitalization increase by more than $2.7 trillion, with Amazon recording its largest gain of $794 billion since May 2014.
Following a strong third-quarter earnings report, Microsoft became the second US company to close at a market capitalization of above $1 trillion on Tuesday, joining its old rival Apple in having reached that milestone. Amazon had also briefly joined that elusive list last fall, but only surpassed the trillion-dollar mark in intraday trading, never ending a day above it.
By Thursday evening, Microsoft had fallen back below the trillion-dollar valuation but still remains ahead of Apple in the never-ending tussle for the unofficial title of most valuable company in the world. Following a long reign of oil and gas companies, tech companies have dominated that ranking in recent years, with all of the so-called GAFAM companies (Google, Apple, Facebook, Amazon, and Microsoft) seeing sharp increases in market capitalization over the past decade.
In the past five years alone, the five most prominent US tech companies saw their collective market capitalization surge by more than $2.7 trillion, with Amazon seeing the biggest gain of $794 billion since May 2014.
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