Microsoft becomes second-most valuable company in the World
Microsoft has secured the place by of the second most valuable company in the world after Apple. In order to gain the second rank, Microsoft has surpassed Exxon, whose shares have been falling lately.
On the other hand, Microsoft's shares have been increasing since October. In that month, expansion in cloud computing business helped Microsoft to report strong fiscal first-quarter results. Microsoft was finally able to achieve the second spot as Exxon's market capitalization declined from $403.9 billion to $400.8 billion.
On Friday, in afternoon trading, Microsoft's shares increased 20 cents to $49.81, making its market capitalization of $410.5 billion. As per experts, Microsoft has worked hard under new CEO Satya Nadella to overcome its reputation of being clumsy and struggling to match up with new trends and consumer habits.