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Microsoft’s Market Capitalization Crosses $3 Trillion Mark

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Microsoft's Market Capitalization Crosses $3 Trillion Mark

(CTN News) – In intraday trading on Wednesday, Microsoft’s market cap briefly surpassed $3 trillion after the stock climbed more than 1% and hit about $404 per share.

Achieving this milestone comes nearly two weeks after Microsoft was able to surpass Apple as the most valuable public company in the world on Jan. 12. It is estimated that Apple’s market cap reached about $3.02 trillion on Wednesday as a result of it reclaiming the No. 1 spot.

It seems that investors are optimistic about the company’s artificial intelligence investments as Microsoft’s shares have risen more than 7% year to date as a result of the strong performance of the company.

It is expected that Microsoft will deliver a “solid beating” for its upcoming fiscal second-quarter earnings report, in part due to its leadership position in generative AI, which makes it a leader in this field.

An analyst note released on Wednesday raised estimates and price targets on the stock and reaffirmed its buy rating.

Additionally, Morgan Stanley analysts reported on Tuesday that they believe Microsoft’s position and contributions related to generative AI are “getting even stronger,” according to a note they wrote.

A new price target has been set at $450 from $415, and the analysts said “we remain confident that our above consensus estimates will continue to be exceeded.”

The company is scheduled to report its results for the second quarter of its fiscal year on Jan. 30.

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