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After 17 years, Microsoft’s market value tops US$500 billion again

Microsoft market cap tops half a billion dollars for first time dotcom era

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People walk near a Microsoft office in New York. Photo: AP
Reuters

Microsoft’s market capitalization topped US$500 billion for the first time since 2000 on Friday, after the technology giant’s stock rose following another quarter of results that beat Wall Street’s expectations.

Shares of the world’s biggest software company rose as much as 2.1 per cent to US$65.64, an all-time high, in early trading, valuing the company at US$510.37 billion.

The last time Microsoft was valued more was in March 2000, during the heyday of the dotcom era, when it had a market value of a little above US$550 billion, according to Thomson Reuters data.

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Despite the gains, Microsoft still lags Apple’s market capitalization of about US$642 billion and Google-parent Alphabet’s market value of a little more than US$570 billion.

An employee hands a bag of purchased goods to a customer at a Microsoft store in Bellevue, Washington as the company’s second-quarter sales and profit exceeded analysts' projections, bolstered by rising customer sign-ups for Azure and Office cloud-computing services. Photo: Bloomberg
An employee hands a bag of purchased goods to a customer at a Microsoft store in Bellevue, Washington as the company’s second-quarter sales and profit exceeded analysts' projections, bolstered by rising customer sign-ups for Azure and Office cloud-computing services. Photo: Bloomberg
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Microsoft reported second-quarter results on Thursday that beat analysts’ average estimate for both revenue and profit, mainly due to its fast-growing cloud computing business.

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