Shares of Microsoft Corp. surged into record territory Friday, enough to push the software giant’s market capitalization above the $1 trillion mark.
The rally stretched Microsoft’s lead as the most valuable U.S. company to well more than $100 billion, as the stocks of second-place Amazon.com Inc. and Apple Inc. languished well below their record closes.
Amazon’s market cap was at $886.1 billion and Apple was valued at $873.9 billion.
Microsoft reached a $1 trillion valuation on a closing basis just once before, on April 30, at $1.001 trillion, about a week after the company reported better-than-expected quarterly results. With 7.66 billion shares outstanding as of April 18, according to the latest quarterly filing, Microsoft would be in trillion-dollar company as long as the stock closes above $130.50.
MacDailyNews Take: Only on the Bizarro World of Wall Street is Microsoft worth more than Apple.
This too shall pass.