Microsoft closes above $2 trillion market cap for the first time

Microsoft closes above $2 trillion market cap for the first time

Is now worth more than $2 trillion. The software maker first hit that level just after 3 p.m. ET on Tuesday, June 22, but dipped below that mark again before ending Thursday's trading session at $266.69 per share. The milestone follows the company's unveiling of , its first new version of the flagship operating system in more than five years, on Thursday morning. Microsoft's value has doubled in two years' time, bolstered by demand for products such as the Teams chat app that kept organizations functioning during the coronavirus pandemic. The appreciation of the company's stock price reflects a rejuvenated company, one that has looked beyond its dominant Windows operating system and found growth in cloud computing and acquisitions. Microsoft stock has grown more than 600% since Satya Nadella replaced Steve Ballmer as the company's CEO in 2014. (During Ballmer's 14-year tenure as CEO, the company's stock fell 32%.) One of Nadella's first moves was to reveal that Office applications like Word and Excel were coming to 's iOS and 's Android, rather than restricting those apps to smartphones that ran Windows. A year later, when Windows 10 came out, it was a free update, unlike Windows 7 and Windows