CALIFORNIA: With a surge in the business of Azure cloud computing, the shares of Microsoft have jumped to 4.2 per cent and are settled at a record high of $323.17. The market capital of the leading software company has jumped to $2.426 trillion. According to the stats by Refinitiv, Microsoft would soon meet the market value of Apple’s $2.461 trillion.
Microsoft has recorded a stock rise of 45pc in 2021, as demands for cloud-based services were high in the pandemic. As for Apple, only a 12pc increase in the shares has been recorded this year.
According to some analysts, Apple expects to achieve a rise in revenue by 31pc in the third quarter, making the adjusted earnings to $1.24 per share.