2024-01-24 18:08:34
Markosoft, the world’s largest company by market value, maintained its position behind Apple, the maker of iPhones, as the market value of its shares exceeded $3 trillion for the first time today, Wednesday, in the latest example of how optimism regarding artificial intelligence has led to… To the software giant’s seemingly unstoppable progress.
Microsoft, through its partnership with OpenAI, is seen as one of the biggest beneficiaries of artificial intelligence. Demand for artificial intelligence services, along with cloud computing to support them, is expected to support Microsoft’s long-term growth trends. ».
Revenues are expected to rise approximately 15 percent in fiscal year 2024, which is faster than the technology sector in general, according to Bloomberg data. This type of growth has led Microsoft to become one of the most popular stocks on Wall Street. ».
The stock rose as much as 1.3 percent to $403.95, resulting in a market capitalization of $3 trillion, a threshold that reinforces Microsoft’s status as one of the largest public stocks.
It briefly surpassed Apple in value – which last year became the first company to reach $3 trillion – but later fell below the iPhone maker.
The progress has continued this year, with a 7.4 percent rise exceeding the Nasdaq 100 index’s 4.6 percent gain.
Much of the gains reflect investors’ enthusiasm for artificial intelligence and its ability to accelerate growth in both profits and revenues.
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