After 17 years, Microsoft is returning to its tech-bubble peak. The software giant closed with a market value of $600 billion yesterday for the first time since January 2000, according to the Journal’s Market Data Group. Shares rose to $77.91, setting an all-time share price high.
For the year, Microsoft shares are already up 25 percent. That puts them on track to have their best year since 2013. Most observers attribute the rebirth of Microsoft to its growth in the cloud-computing space.
The firm is the third-largest S&P 500 company in market value, trailing Apple (about $800 billion)and Google’s parent company, Alphabet (about $690 billion). In July, Facebook and Amazon.com joined the trio as the only U.S.-listed companies valued at more than the $500 billion.
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