Toward the finish of exchanging Wednesday, Microsoft's fairly estimated worth was $760 billion (generally Rs. 51.3 lakh crores), holding off Google's parent organization Alphabet, whose market esteem was $746 billion (generally Rs. 50.3 lakh crores).More news: Aussie Smith surges to lead in weather-hit US Women's Open
The Tame Apple Press points out that Microsoft still trails behind Apple's market valuation of $923 billion and Amazon's $782 billion market cap. Boosted by consistent increment in its Cloud and Office services, Microsoft clocked an income of $26.8 Billion and net revenue of $7.4 Billion in its quarter three that concluded on March 31, 2018. The ballooning valuations have fueled speculation as to which US tech company will be the first to reach a $1 trillion-market cap.
In the five years since former CEO Steve Balmer announced his retirement and Satya Nadella took over the company, Microsoft has more than doubled its stock price. Morgan Stanley software analyst Keith Weiss told investors at the time that he expects Microsoft to reach $1 trillion in market cap within the next year, owing to the growth of its cloud storage unit and the company's existing Office customer base that will probably upgrade to its cloud subscription service. In fact, Microsoft's cloud platform, Azure, has managed to hit the big competitor, the Amazon Web Service (AWS). Apple is flirting with a $1 trillion market capitalization.More news: Microsoft is Planning to buy GitHub at $2 Billion
Apple is also in the race to become the world's first trillion-dollar company and it has been considered the leader.
90 per cent of Google's revenue is earned from advertising while 60 per cent of Apple's revenue relies exclusively on its iPhone business. Microsoft and Google have been trading places on the rankings since Google first surpassed the company in 2012.More news: Kathleen Wynne concedes as Ontario Liberals trail NDP, PCs in polls
Office commercial products and Cloud services revenue increased 14 per cent - driven by Office 365 commercial revenue growth of 42 per cent.