- June 26, 2021
- Posted by: Stratford Team
- Category: Business
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Illustration by Elias Stein
Microsoft
is now the second company to boast a $2 trillion market capitalization, following
Apple,
which breached that level last August. And Microsoft may go higher yet.
Wedbush analyst Daniel Ives this past week reiterated his Outperform rating on the software giant, lifting his price target on the shares to $325 from $310. That represents a potential gain of more than 20%, which would take the company’s market value to $2.4 trillion. His enthusiasm for the stock is driven by Microsoft’s cloud business, Azure.
On Wednesday, Microsoft shares inched up 0.1% to $265.79, a new high, boosting its market cap to $2.004 trillion. (Apple is at roughly $2.2…
