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Microsoft Becomes The Most Valuable US Company

Microsoft's gaming revenue increased 44 per cent with Xbox software and services revenue growth of 36 per cent while Surface revenue increased 14 per cent

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Microsoft launches e-commerce portal for Telangana's handloom weavers. Pixabay

Microsoft has become the most valuable US company with $753.3 billion in market capitalisation, riding past Apple for the first time since 2010 when it came close to the Cupertino-based tech giant.

Apple, which became the first $1-trillion US company in August, came down to $746.8 billion on Friday, owing to lower-than-expected iPhone sales amid reports of its suppliers cutting cost and workforce.

Amazon with $736.6 billion is currently at third and Alphabet (the parent company of Google) with $725.5 billion is at the fourth spot.

“With Microsoft now overshadowing all three, including Alphabet Inc, the firm now looks to be the most valuable tech company of the Silicon Valley giants,” mspoweruser.com reported.

The investors are now betting big on companies with robust Cloud services and software services which are witnessing an increased demand from big and small enterprises the world over for their digital journey, at a time when giants like Facebook and Google face intense scrutiny for users’ data practices.

Riding on its growing Azure Cloud, gaming and Surface laptop portfolio, Microsoft posted a revenue of $29.1 billion and net income of $8.8 billion for the first quarter of its 2019 financial results.

Revenue was up 19 per cent while net income increased by 34 per cent. Operating income was $10 billion and increased 29 per cent.

“We are off to a great start in fiscal 2019, a result of our innovation and the trust customers are placing in us to power their digital transformation,” CEO Satya Nadella said in a statement.

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A sign for Microsoft is seen on a building in Cambridge. VOA

Revenue in Intelligent Cloud was $8.6 billion and increased 24 per cent. Server products and Cloud services revenue increased 28 per cent driven by Azure revenue growth of 76 per cent, Microsoft informed.

Revenue in More Personal Computing was $10.7 billion and increased 15 per cent.

“Windows commercial products and Cloud services revenue increased 12 per cent,” said the company.

Microsoft’s gaming revenue increased 44 per cent with Xbox software and services revenue growth of 36 per cent while Surface revenue increased 14 per cent.

Also Read- Xiaomi Sold Six Lakh Units of Redmi Note 6 Pro During Black Friday Sale

On the other hand, slower-than-expected demand has reportedly led Apple to direct its top phone assemblers, Foxconn and Pegatron, to halt a planned production boost for iPhone XR, a relatively cost-effective model that hit the shelves late last month.

Foxconn, a Taiwan-based company, would produce around 100,000 fewer units daily to reflect the new demand outlook, down 20-25 per cent from the original optimistic outlook, Japanese financial paper Nikkei reported earlier this week.

The estimates of iPhone XR have been cut by nearly 30 million shipments, according to an Apple analyst.

Ming Chi-Kuo, an Apple analyst working with TF International Securities, said earlier this month that shipment forecast for the iPhone XR has been cut from 100 million units to 70 million units during the product lifecycle. (IANS)

Next Story

Cyber Criminals Attack Nearly 10,000 Microsoft Customers

“ElectionGuard” is free and open-source and will be available through the repository GitHub as a software development kit (SDK) later this year

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FILE - A sign for Microsoft is seen on a building in Cambridge, Massachusetts, March 18, 2017. VOA

Microsoft has notified nearly 10,000 customers in the past year who were targeted or compromised by nation-state attacks originating from three countries — Iran, North Korea and Russia.

According to Tom Burt, Corporate Vice President for Consumer Security and Trust at Microsoft, 84 per cent of these attacks targeted its enterprise customers, and about 16 per cent targeted consumer personal email accounts.

“While many of these attacks are unrelated to the democratic process, this data demonstrates the significant extent to which nation-states continue to rely on cyber attacks as a tool to gain intelligence, influence geopolitics or achieve other objectives,” Burt said in a blog post late on Wednesday.

The company has seen extensive activity from the actors it calls Holmium and Mercury operating from Iran, Thallium operating from North Korea, and two actors operating from Russia it calls Yttrium and Strontium.

“This data has been compiled by the Microsoft Threat Intelligence Center which works every day to track these global threats,” said Burt.

Since the launch of Microsoft “AccountGuard” last August, the company has uncovered attacks specifically targeting organisations that are fundamental to democracy.

“We have steadily expanded AccountGuard, our threat notification service for political campaigns, parties, and democracy-focused non-governmental organisations (NGOs), to include 26 countries across four continents.”

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FILE – Microsoft Corp. signage is seen outside the Microsoft Visitor Center in Redmond, Washington, July 3, 2014. VOA

Microsoft has made 781 notifications of nation-state attacks targeting organisations participating in AccountGuard.

This data shows that democracy-focused organisations in the US should be particularly concerned as 95 per cent of these attacks have targeted US-based organisations. Many of the democracy-focused attacks target NGOs and think tanks.

“As we head into the 2020 elections, we anticipate that we will see attacks targeting US election systems, political campaigns or NGOs that work closely with campaigns,” warned Microsoft.

Also Read: Samsung Galaxy Note May not Feature Snapdragon 855 Plus Chip

The company demonstrated the first voting system running Microsoft ElectionGuard technology at the Aspen Security Forum in Aspen, Colorado, on Wednesday.

“ElectionGuard can enable a new era of secure, verifiable voting. It is also possible to make voting more accessible for people with disabilities and more affordable for local governments while increasing security,” said Burt.

“ElectionGuard” is free and open-source and will be available through the repository GitHub as a software development kit (SDK) later this year. (IANS)