Stocks closed at lows again Wednesday, despite big gains from Microsoft and Google. Ford jumped late on earnings. Read More...
Reuters
Microsoft nearly overtakes Apple as most valuable company
Fueled by strong quarterly growth in its Azure cloud-computing business, Microsoft’s shares jumped 4.2% to end at a record $323.17, elevating the software maker’s market capitalization to $2.426 trillion, just short of Apple’s $2.461 trillion valuation, according to Refinitiv data. Apple’s shares dipped 0.3% ahead of its report due after the bell on Thursday, with investors focused on how the global supply-chain crisis is challenging the company’s ability to meet demand for its iPhones. Microsoft’s stock has rallied 45% this year, with pandemic-induced demand for its cloud-based services driving sales.
Add Comment