Along with unveiling Windows 11, Microsoft can now add ending the day as a $2 trillion business to its list of accomplishments. According to CNN Business, this makes it the second American publicly traded firm to ever have a market valuation of over $2 trillion (the other being Apple, which did it in August 2020).
It’s simple to see how 2020 aided Microsoft’s success: the PC market expanded by more than 10% in 2020, according to IDC and Canalys projections, and appears to have maintained some of that pace this year.
Microsoft’s Surface devices, Xbox content, and cloud services all performed well, with the company’s Intelligent Cloud sector bringing in $48 billion in its fiscal year 2020.
There’s also the aforementioned Windows 11 announcement, which could push consumers to update if their systems don’t meet the minimal requirements.
The company’s market cap temporarily surpassed $2 trillion earlier this week, but by the time markets closed, it had fallen just shy of the record. According to Yahoo Finance, Microsoft was able to close the market today with a market capitalization of $2.009 trillion.