Microsoft CEO says $1T valuation 'not meaningful': Here's what is
As Wall Street watches Apple's ascension – once again – toward a $1 trillion market valuation, Microsoft CEO Satya Nadella, whose company is in competition to be the world’s most valuable, said he is not focused on those rankings.
During an interview with Bloomberg Businessweek, Nadella said having a $1 trillion market cap – which it has achieved, but has since fallen below – is “not meaningful.”
“I would be disgusted if somebody ever celebrated our market cap,” Nadella said, adding that celebrating that type of milestone would be “the beginning of the end.”
The 51-year old tech CEO said the company needs to be able to keep pushing itself forward, instead of falling into complacency. That includes a focus on the future, and specifically its cloud business, Azure, which has shown impressive growth throughout recent quarters. Microsoft’s market share in the cloud space, like others, is still eclipsed by industry leader Amazon.
Nadella took the helm at Microsoft in 2014. Over the past five years, shares of the company have risen more than 220 percent.
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However, growth in Microsoft’s Intelligent Cloud division helped fuel growth during its most recent quarter. Revenue increased to $9.7 billion, the company said.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MSFT | MICROSOFT CORP. | 408.39 | -0.51 | -0.12% |
| AAPL | APPLE INC. | 222.38 | +1.53 | +0.69% |
| AMZN | AMAZON.COM INC. | 177.89 | +4.56 | +2.63% |
Microsoft, Apple and Amazon are the only three U.S. companies that have ever reached the $1 trillion valuation mark.