Microsoft market capitalization rallies above $1 trillion on Thursday to make the technology giant become the world’s most valuable company.
The company will be joining Apple and Amazon to become the third technology giant to reach the trillion-dollar mark.
Shares in Microsoft rallied some five per cent to $130.59 in early Wall Street trade after a robust earnings report a day earlier.
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Microsoft had reported on Wednesday that profits in the quarter to March 31 rose 19 per cent to $8.8 billion on revenues of $30.8 billion.
“This quarter was an absolute ‘blow out quarter’ across the board with no blemishes and in our opinion speaks to an inflection point in deal flow as more enterprises pick (Microsoft) for the cloud,” said Daniel Ives of Wedbush Securities.
“While the stock has been very strong and a trillion dollar market cap is now reached, we believe the cloud party is just getting started in Redmond.”
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