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| Microsoft has a market value of $2 trillion |
Microsoft has officially joined the Most Elite Club, a corporate club with a market capitalization of more than $2 trillion.
After Apple, the software giant is the second listed US company to receive this rating.
Saudi Aramco also crossed that mark on the second day of trading. Although its market capitalization is now $1.88 trillion.
Saudi Aramco went public in 2019. It is listed on the Saudi Tadawul stock exchange.
In Tuesday's deal, Microsoft's market value exceeded $2 trillion. The closing price was about $300 million. On Tuesday, the stock price rose 1.1% to $265.51.
The company reached $2 trillion in just over two years after initially exceeding the $1 trillion market capitalization.
The coronavirus helped her get there. The pandemic means that people are spending more time on devices, which leads to increased demand for Microsoft computers, game systems and cloud computing platforms.
The recovery in the stock markets, especially the success of technology companies, has sent their stock prices soaring.
Microsoft's stock price has risen 64% since the United States implemented lockdown measures to combat the pandemic in March 2020.
Since Satya Nadella was appointed CEO in February 2014 and replaced Steve Ballmer, the stock has increased in value by 720%.
Under Nadella's leadership, Microsoft has developed:
Nadella led the company to a cloud-centric software strategy that expanded the public cloud business from Azure and the cloud versions of Office and other application software.
In April of this year, the software giant announced that its revenue for the three months ended March 31 rose 19% year-over-year to $41.7 billion.
"The digital adoption curve has not slowed in more than a year since the pandemic," CEO Satya Nadella said in a statement at the time. As we build the cloud for the next decade, expand our target market and innovate in every technology layer to help our customers survive and change.
In August of last year, Apple's market capitalization exceeded $2 trillion and currently stands at $2.24 trillion.
Microsoft's market capitalization has increased by about $960 billion since March 16, 2020, which is slightly higher than Facebook's current market value of about $950 billion.
Microsoft has now joined their ranks, and Amazon and Google want to join this $2,000 billion club.
Amazon ranks third in the list of the largest technology companies by market capitalization. Its value is estimated at $1.76 trillion, followed by Google at $1.67 trillion.