Microsoft Surpasses Alphabet to Become Third-Most Valuable Company in the World
Microsoft has surpassed Alphabet to become the third-most valuable company in the world, with a market cap of over $760 billion.
This milestone marks the first time Microsoft has taken the lead over Google in several years and comes after years of significant growth under CEO Satya Nadella's leadership.
One key factor driving this success is Microsoft's shift towards a 'cloud-first' world, particularly with its Azure business. According to Patrick Moorhead, president and principal analyst at Moor Insights, 'They are a very strong number two to AWS who arguably had a 5-year head start on them. I think the market really likes that.'
Microsoft's cloud efforts have paid off substantially, with consistent growth in both its customer base and revenue.