Microsoft Beat Google"s Parent Company Alphabet To Become 2nd Most Valuable Company By $10b On Tuesday
Microsoft passed Google’s parent company Alphabet in market value by $10b for the first time in six years on Tuesday. Google overtook Microsoft six years ago but over the last 12 months, Microsoft’s stock value has grown by about 40 percent which according to CNBC is five times Google’s (Alphabet’s) gain.
As of Tuesday the 29th of May 2018, Microsoft had a market value of $749b while Alphabet had $739b. Apple which is the most valuable by market capitalisation is now worth over $920b and is well on track to becoming the world’s first trillion dollar company.
Here’s more from CNBC;
Microsoft"s latest rally has been sparked by growth in its cloud-computing business, which is bigger than Google"s though it still trails Amazon Web Services. In March, Microsoft reorganized its Windows and Devices Group and moved its engineering resources into other units, including one focusing on cloud and artificial intelligence.
Both Microsoft and Alphabet beat analysts" expectations in the first quarter.
Google went public in 2004 and spent the next eight years closing the gap with Microsoft, which debuted on the stock market in 1986. Even after Google first passed Microsoft in 2012, the companies flip-flopped several times over the next few years.
But Google, which created Alphabet as its parent company in 2015, took a commanding lead that year and held onto it until this month. Microsoft is now the world"s third most valuable publicly traded company, behind Apple and Amazon. Alphabet is fourth, followed by Facebook and China"s Tencent .
On Tuesday, Microsoft fell 0.6 percent to $97.77, while Alphabet"s Class A shares dropped 1.4 percent to $1,068.63.
- https://www.techbooky.com/microsoft-beats-alphabet-to-2nd-place/
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