Microsoft became the first US$1 trillion public company whose principal business began as a software company.
Microsoft crossed a US$1 trillion market capitalization during trading on April 25, 2019. The company had transformed from a personal-computer software supplier into a broad technology platform with cloud computing, enterprise software, gaming, hardware, and professional networking.
Its Azure cloud business was a major part of the investment story. Microsoft also benefited from recurring subscriptions such as Microsoft 365 and from the continued importance of Windows and enterprise products. These businesses gave investors several growth and revenue streams rather than dependence on one consumer device.
Microsoft was not the first company overall to reach US$1 trillion: Apple, Amazon, and Alphabet had already done so. Its milestone is notable because it showed how an established software company could regain rapid growth through cloud services. Microsoft later joined the small group of companies valued above US$2 trillion.