Microsoft’s stock has shot up high and the tech giant has managed to surpass Exxon Mobil. This has helped Microsoft to grab the position of being the second most valuable company following Apple Inc.
The new Microsoft CEO, Satya Nadella has worked in order to overcome its reputation considering it a clumsy firm that is struggling to keep up with the new trends in technology and consumer habits. Nadella has managed to cut expenses and jobs and also pledged to refocus the firm on mobile technology and cloud computing as well.
Nadella’s efforts have fueled a surge in the company’s stocks that has increased the total market value of Microsoft above $410 billion on Friday. This figure has excelled the value of Exxon of $04 billion that went down due to the drop in oil prices.
According to Daniel Ives, a tech analyst at FBR Capital Markets, Microsoft has created a strategic change, but it still faces challenges with a firm that is dependent on the declining personal computer market. However, the tech giant appears to have done a better job than the longtime tech stalwarts including Oracle, IBM and Hewlett-Packard.
While Microsoft is the second most valuable company,Cupertinobased Apple remains the leader with a market value of over $668 billion. This figure is pretty higher than the $616 billion value of Microsoft when it was the market leader back in 2009.
TheRedmondbased tech giant Microsoft has garnered a great interest lately that helped its stock to rise by about 70 percent since April 2013. From then, Nadella came up with new initiatives to get bigger in cloud computing that promises to a lucrative model than the traditional model of selling software to be installed on clients’ devices.
Microdot has assured that it will redesign the Windows operating system and release newer versions of popular software meant for smartphones and tablets, including those devices that are manufacturers by Apple as well.
