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12.07.2018 18:02:50

Microsoft stock hits $800 billion market cap for first time

Microsoft Corp. stock reached record highs in Thursday morning trading, and the software giant topped an $800 billion valuation on an intraday basis for the first time. Microsoft reached a new intraday hihg of $104.29 just after noon Eastern time Thursday, easily eclipsing its previous intraday record of $102.34 set last month. At a price of $104.13 or above, Microsoft would have a market capitalization of $800 billion, according to FactSet, a mark the company had never reached. Only three companies have larger market caps than Microsoft at the moment: Apple Inc. , Amazon.com Inc. and Google parent company Alphabet Inc. . Amazon also hit record highs Thursday morning, and Alphabet was on track for a record closing high. Microsoft stock has increased 21.3% so far this year, as the S&P 500 index has gained 3.8%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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