Microsoft does something that only Apple and Amazon have ever accomplished before
You didn't have to be a techie, a fan boy or wealthy investor to enjoy the two-horse race last year between Apple and Amazon. Both companies were neck and neck in a race to be the first publicly traded U.S. firm to reach a trillion dollar valuation. Last August 2nd, Apple hit the milestone first, followed by Amazon almost exactly one month later. And that's why it was such a surprise when Microsoft finished 2018 as the most valuable public company in the U.S.
As spotted by the Wall Street Journal, a positive earnings report released by the gang in Redmond after the market closed last night has propelled the stock sharply higher. This morning, Microsoft's shares reached a high of $131.37 and at that point, the company was worth $1.007 trillion dollars.Even though Microsoft finished on top as last year ended, it was the beneficiary of a sharp market correction that took Apple and Amazon down 32% and 27% from their 2018 highs, respectively. But the software giant had never actually joined Apple and Amazon in the trillion dollar club; that is, until today.
Microsoft investors have taken some profits, allowing the stock to drift back to $129.64 as we write this. That takes the company under the $1 trillion mark but doesn't remove the accomplishment from the history books. Meanwhile, Apple and Amazon's shares have recovered enough from last winter's drubbing to make another run at a $1 trillion valuation. Apple, which reports earnings next week, is currently worth close to $975 billion. Amazon reports earnings later today and is currently worth $944 billion.
While some might say that Microsoft has failed miserably in the mobile industry with Windows Mobile and Windows Phone, others might point out the success it has had with the Surface Pro high-end tablets. And more importantly for Microsoft, it owns a slew of Android-related patents that bring in a huge sum of money every year.