Business News / Microsoft's market cap crosses 3 trillion dollars - creates a new record

Business News: The world's leading technology company Microsoft has once again created history by creating a new record. Microsoft's market cap has crossed $3 trillion. After iPhone maker Apple, Microsoft is the second big company to cross this figure. Till now only Apple's market cap was beyond 3 trillion dollars. Microsoft shares were trading at the rate of $403.78 on NASDAQ. There was an increase of 1.17 percent and the company has touched its 52 week high level.

One step away from apple

According to the information, the market cap of tech giant Microsoft has touched the figure of 3 trillion dollars on January 24. Earlier, iPhone maker Apple had achieved this milestone in June last year. However, for some time, the market value of Microsoft had become more than that of Apple. Later it declined. Since then the struggle for the number one position continues.

Daak in AI sector

This rise in Microsoft's shares was mostly due to the company's increasing dominance in Artificial Intelligence (AI). Investors are hopeful that Microsoft's earnings, which are one step ahead in the AI segment, are going to increase. In the field of AI, Microsoft has started making its mark in collaboration with OpenAI. Due to these reasons, a positive environment has been created for the company in the market.

Getting benefit from it

There has been a tremendous increase in the demand for AI in cloud computing infrastructure. Microsoft is ready to take advantage of this. According to a Bloomberg Intelligence report, about 15 percent of the company's revenue growth in fiscal year 2024 is going to be from AI. Due to this strong growth, the demand for Microsoft shares has increased significantly on Wall Street. Almost 90 percent experts are advising to buy this share. He claims that at present it may increase by 7 percent.