In a remarkable performance, the shares of Microsoft Corp. have surged by 2.4% in afternoon trading on Friday, heading towards its third record close in the last four sessions. Over the past 11 sessions, Microsoft’s stock has skyrocketed by an impressive 12.6%, resulting in a remarkable gain of $307.8 billion in its market capitalization.
Impressively, Microsoft is now the second-largest component in the S&P 500, boasting a market cap of $2.745 trillion, surpassed only by Apple Inc. with a market cap of $2.891 trillion. This rally began shortly after Microsoft reported exceptional quarterly results.
Notably, market research firm Bespoke Investment reported that Microsoft, along with Apple, now possesses a larger market cap than the combined market caps of the companies listed in the Russell 2000 index, which consists of small-capitalization companies.
Microsoft’s consistent growth and undeniable presence in the market continue to solidify its position as a dominant force in the technology industry. As investors eagerly monitor its upward trajectory, it will be interesting to see how far Microsoft can push the boundaries of success.