Microsoft surpasses the barrier of three trillion dollars in market capitalization

This Wednesday, Microsoft reached a historic market valuation of three trillion dollars, in an example of how the business expectations generated by artificial intelligence (AI) have propelled the unstoppable advance of the software

.

In line with the rest of the so-called Magnificent Seven (the large technology firms), Microsoft shares have risen 1.6%, to $405.13 per share, which represents a market capitalization of just over three billion. Dollars.

This record cements Microsoft's status as one of the largest listed securities.

The shares of Microsoft and Apple have disputed the first place as the most capitalized value on Wall Street since the beginning of the year, and in fact the iPhone manufacturer, which last year became the first company to reach three trillion dollars in capitalization, briefly lost its crown to the

giant in early January.

In an endless struggle, Microsoft soon after placed itself again below the iPhone maker in value, and since then the two have exchanged places.

Apple currently has a market valuation of $3.03 trillion.

manufacturer

belongs to the select technology club that has driven the market's advancement during 2023, gaining around 57%.

Progress continues this year, with a 7.7% gain outpacing the 4.9% gain for the Nasdaq 100 index. Microsoft accounts for 7.3% of the S&P 500 index, which closed last week with the best numbers on record in two years.

Much of the rise is due to investor enthusiasm for artificial intelligence and its potential to accelerate both profit and revenue growth.

Backed by its investment in OpenAI, maker of ChatGPT, Microsoft is considered the favorite in the race to dominate the generative artificial intelligence (AI) market ahead of other technology heavyweights, such as Alphabet, owner of Google;

Amazon, Oracle and Meta, Facebook's parent company.

Powered by OpenAI, Microsoft has launched new versions of its core productivity

products as well as its Bing search engine, which is expected to better compete with Google's dominant search offering.

Microsoft, through its partnership with OpenAI, is one of the biggest beneficiaries of this commitment to AI and already offers its clients services generated or supported by AI.

Demand for these services, along with supporting cloud computing, is expected to underpin Microsoft's long-term growth trends.

Pending its second-quarter results, which will be released later this month, its revenue is expected to grow 15% in its fiscal 2024, faster than the technology sector as a whole, according to calculations by Bloomberg Intelligence .

Microsoft's exponential growth has made the firm led by Satya Nadella one of the most popular stocks on Wall Street.

More than 90% of analysts surveyed by Bloomberg recommend buying shares, and experts' average price target points to an upside of around 7% from current levels.

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