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Microsoft
ended the week with a market capitalization of $3.125 trillion, the highest for any company ever.
The company’s market value topped the previous record set by
Apple,
which reached $3.09 trillion in July, according to Dow Jones Market Data. Apple ended Friday with a market cap of $2.916 trillion.
Microsoft is also the first U.S. company to close with a market cap greater than $3.1 trillion.
Microsoft stock closed the week at $420.55. Over the past 12 months, shares have soared 60% largely thanks to enthusiasm about its artificial intelligence software.
The company last month reported quarterly revenue and profit ahead of Wall Street’s forecasts, and management made note of the company’s AI gains.
“We’ve moved from talking about AI to applying AI at scale,” CEO Satya Nadella said in a statement at the time. “By infusing AI across every layer of our tech stack, we’re winning new customers and helping drive new benefits and productivity gains across every sector.”
Write to Emily Dattilo at [email protected]
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