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Shares of tech giant Microsoft rose 1% in Wednesday’s session, hitting a new high at $ 280.50.
This is the fourth session in a row that Microsoft shares have broken all-time highs.
The company’s market capitalization was around $ 2.1 trillion at the close on Tuesday.
On Tuesday, the US Department of Defense canceled a $ 10 billion cloud computing contract, which was the subject of a legal battle between the two giants, Amazon and Microsoft. But he announced a new contract, soliciting proposals from both cloud providers and both are likely to earn a bounty.
The company’s third quarter results, released at the end of April, exceeded expectations and showed strong growth in all of its business segments.
Microsoft last month joined Apple in the club of giants, which includes companies with market values of up to two trillion dollars.
Saudi Aramco briefly crossed that limit in December 2019, but its market value is currently around $ 1.9 trillion.
Founded in 1975 by Bill Gates and Paul Allen, Microsoft created the personal computer software industry and dominated the computer operating systems and Office software market for years.
And while it took 33 years for Microsoft’s IPO to hit its first trillion dollars in 2019, the next trillion only took about two years amid the surge in popularity of tech stocks before. the Covid-19 pandemic and during the health crisis.
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