Microsoft Joins GE With Market Value Over $200 Bln
Redmond, Washington, Feb. 24 (Bloomberg) -- Microsoft Corp.
joined a select club with General Electric Co. as the only
companies with a market value of more than $200 billion.
The world's biggest maker of personal-computer software rose
1 1/16 to 82 11/16, giving it a market capitalization of $201.5
billion. Microsoft was the most actively traded stock on U.S.
markets and earlier touched a record high 83 3/4.
The shares split 2-for-1 yesterday, providing a boost to the
price. Microsoft also recently reported in a filing with the
Securities and Exchange Commission that earnings and sales were
strong in January, which analysts said is usually a weak month.
''They're off to a very good start to the quarter,'' said
Brett Berry, a portfolio manager with Bailard, Biehl & Kaiser,
which owns shares in Microsoft. ''That, combined with the stock
split, has created some buzz around the stock.''
By comparison, GE has a market value of $253 billion, making
it the most valuable company in the world. The company owns an
array of businesses, including the NBC television network and a
financial services company.
Microsoft's shares have risen 29 percent this year amid
renewed optimism that technology companies won't suffer as much
from Asia's economic problems as previously thought. Microsoft
rose 5.2 percent yesterday after a 2-for-1 stock split took effect.
Microsoft overtook Coca-Cola Co. on July 16 as the world's
second-most valuable company.
Bill "Pie-face" Gates reportedly worth 45 Billion himself.
o~~~ O |
