Microsoft Closes Above the $2M Market Cap Mark for the Very First Time

Tech giant Microsoft hit a major milestone this week, closing over the $2 million market cap for the first time on Thursday.

The company under CEO Satya Nadella has seen its shares gain over 600%. Nadella had replaced former CEO Steve Ballmer in 2014. During Ballmer’s 14-year run as CEO, shares had fallen 32%.

The big milestone came after Microsoft unveiled the new Windows 11, its first new version of the flagship operating system in over five years.

Microsoft revealed Windows 11 during an online event on Thursday morning.

The company hit the $2T 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.

One of Nadella’s first moves as CEO was to reveal that Office applications like Word and Excel were coming to Apple’s iOS and Google’s Android, rather than restricting those apps to smartphones that ran Windows.

When Microsoft later rolled out Windows 10, it was a free update, unlike Windows 7 and Windows 8. Windows 10 is the world’s most widely used PC operating system, with over 1.3 billion devices using it.

Microsoft said that Windows 11 will be a free update and is due out by the holidays. The compaony also showed new Xbox features coming to Windows 11 and revealed big changes to its Microsoft Teams app in Windows 11.

The company has spent more than $45 billion acquiring companies under Nadella, including business social network LinkedIn, video game developers Mojang and Zenimax, and the code-storage service GitHub.

Microsoft was also among the first companies to exceed a $1 trillion valuation when it hit that milestone in April 2019.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.