Microsoft crosses $2 trillion valuation mark in intraday trading

Microsoft Corp.'s valuation briefly crossed the $2 trillion threshold in intraday trading Tuesday, though the stock later pulled back slightly and Microsoft failed to close out the session with its market value above the milestone mark. Shares of Microsoft traded as high as $265.79 Tuesday, above the $265.55 price needed to give it a $2 trillion valuation, but shares ultimately finished the day pennies shy at $265.51 for a valuation of $1.9997 trillion based on a share count of 7.531 billion. Microsoft is looking to join Apple Inc. , which is the only U.S. company to have closed a trading day with a market capitalization above $2 trillion. Apple is now worth about $2.2 trillion. Both technology giants benefited strongly during the pandemic, with Microsoft seeing growing demand for its cloud-computing service, workplace-productivity solutions, and personal computers. Microsoft shares have gained 32.4% over the past 12 months as the Dow Jones Industrial Average has risen 65%.

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