Shares of Microsoft Corp. surged into record territory Friday, enough to push the software giant’s market capitalization above the $1 trillion mark.
The rally stretched Microsoft’s lead as the most valuable U.S. company to well more than $100 billion, as the stocks of second-place Amazon.com Inc. and Apple Inc. languished well below their record closes.
Microsoft shares MSFT, +2.80% ran up 2.9% in afternoon trade to pace the Dow Jones Industrial Average’s DJIA, +1.02% gainers. Prices surpassed the April 30 record close of $130.60, to lift Microsoft’s market cap to $1.008 trillion.
They have rallied 9.7% over the past four sessions, which would be the best four-day performance in nearly four years, when it shot up 12.4% in the four days ending Oct. 28, 2015.
Meanwhile, Amazon’s stock AMZN, +2.83% was up 2.6%, but was 11.8% below its Sept. 4 record close of $2,039.51, and Apple shares AAPL, +2.66% climbed 2.5%, but was 18.2% below their Oct. 3 record of $232.07. Amazon’s market cap was at $1886.1 billion and Apple was valued at $873.9 billion.
Microsoft reached a $1 trillion valuation on a closing basis just once before, on April 30, at $1.001 trillion, about a week after the company reported better-than-expected quarterly results. With 7.66 billion shares outstanding as of April 18, according to the latest quarterly filing, Microsoft would be in trillion-dollar company as long as the stock closes above $130.50.