Microsoft becomes third company to hit $1 trillion value

Microsoft becomes third company to hit $1 trillion value

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US company Microsoft briefly topped $1 trillion in market capitalisation for the first time after beating its quarterly earnings estimates. Microsoft stock gained about 23% so far this year due to its flagship cloud product Azure, rivalling Amazon. Apple and Amazon, which have earlier crossed the trillion-dollar milestone may do so again after their upcoming earnings reports.

Under Chief Executive Satya Nadella, the company has spent the past five years shifting from reliance on its once-dominant Windows operating system to selling cloud-based services. Azure, Microsoft’s flagship cloud product, competes with market leader Amazon Web Services (AWS) to provide computing power to businesses.

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Microsoft becomes third company to hit $1 trillion value