Microsoft Market Value Skyrockets $450 Billion Amid Strong Earnings

Microsoft's market value surged by a record $450 billion on July 30, as its shares rose 15.5% to close at $451.10.

The company reported an 18% year-over-year revenue growth to $331.8 billion and a 31% increase in net income for the fiscal fourth quarter.

Microsoft's cloud computing segment, Azure, is expected to grow by about 45% in constant currency for the fiscal first quarter, contributing significantly to the stock's rise.