Microsoft surpassed Google in stock market value this week following several years of doubt over whether or not one of the original masters of the universe would turn it around.
CNBC reported this week that Microsoft overtook Alphabet (Google’s parent company) in overall stock market value. Alphabet first overtook Microsoft six years ago. At that point, many market analysts predicted that the companies would continue in their current directions. Alphabet would continue to rise and the software giant would continue to slide. Now, the two companies have flipped once again. This time, Microsoft finds itself out on top.
Patrick Seitz of Investor’s Business Daily credits Redmond’s recent push into cloud-computing for the increase in the company’s stock market value. Specifically, Seitz is talking about subscription services like Office 365, which includes popular applications such as Word, PowerPoint, and Excel. Additionally, Microsoft has recently placed emphasis on artificial intelligence development, which may have also played a role in increasing the company’s valuation.
The change means that the company behind Windows is the third most valuable company in the world. Alphabet now sits at the number four spot. Apple and Amazon occupy the first and second spots on that list.
On Wednesday, Microsoft was up .96 percent to $98.95. Alphabet was also up on Wednesday, closing at $1,077.47, .88 percent up from the previous day.