On Tuesday, Microsoft’s market capitalization hit $2 trillion for the first time. It’s the second U.S. corporation to achieve this milestone.
And perhaps not coincidentally, there were only two corporations with a $2+ trillion market cap as of the close of market yesterday, Apple—which first hit the $2 trillion market cap milestone almost one year earlier—and Microsoft. When I checked Microsoft’s market cap this morning, it sat right at $1.999 billion.
The reason for Microsoft’s rapid ascent is obvious enough: The COVID-19 pandemic has dramatically lifted the fortunes of most companies with hybrid work/learning solutions, and Microsoft has dug in hard on this “new normal.” Since the pandemic triggered shutdowns in the U.S. in mid-March 2020, the software giant’s stock price has surged nearly 60 percent.
The most interesting thing about Microsoft’s financial dominance is that it hasn’t triggered massive antitrust scrutiny. Big Tech companies like Amazon, Apple, Facebook, and Google, three of which are smaller than Microsoft, are in trouble on multiple continents and with numerous regulatory bodies, and each will face behavioral, if not structural, changes as a result.
But Microsoft? Almost complete silence.