Ticker MSFT

Today's data summary

Market closed
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Price US dollars
As of 08:39 20 Aug 2018
Market cap. US dollars
824,946.83 million
As of 08:39 20 Aug 2018

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Apple set to be worth 6% of US GDP

BBC Radio 5 live


Better-than-expected third quarter results from Apple sent shares up 3% in after hours trading - putting the technology giant within spitting distance of becoming the world's first $1 trillion company.

But that's not something to crow too loudly about, says Russ Mould, investment director of AJ Bell.

He tells Wake Up to Money: "If you look at that market cap, that means it is worth roughly 6% of US GDP on its own.

"I know Apple is a multi-national company, it doesn't operate just in America but that's a pretty big figure and once you chuck in Amazon, Netflix, Alaphabet and Facebook between them they're worth around 20% of US GDP."

He says: "The last time we got to this level, Cisco and Microsoft at the peak of the tech bubble in 2000, they were at about 6% of US GDP based on their valuation and that didn't end very well so I would just be a little bit careful."

Tech giant Microsoft sees $30bn revenue in fourth quarter

Microsoft logo
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US tech giant Microsoft posted a whopping 17.5% jump in revenue to $30.08bn in the three months to June, beating analysts' expectations.

The firm said the double-digit revenue growth was boosted in a large part by its commercial cloud business, which saw revenue climb 53% from a year earlier.

Net income came in at $8.9bn for the quarter, the firm said.

Since taking over as the company's chief executive in 2014, Satya Nadella has moved Microsoft's focus away from its well-known PC software business and towards cloud computing.

"This was another gem of a quarter from Microsoft as Nadella's cloud vision is coming to fruit," said analyst Daniel Ives from GBH Insights.

Xbox One gets new Halo, Forza and Gears of War games at E3
Microsoft reveals several big-name sequels and hires new talent to make more exclusives of its own.