Microsoft's stock price has been on an upward trend for some time, but the company marked a major milestone today: the $100 mark. As of this writing, Microsoft stock is trading at just over $100, the first time it has crossed that threshold (via MSPU) since undergoing a series of stock splits in the 1990s.
The news comes days after Microsoft swapped positions with Alphabet to become the world's third most valuable company in terms of market cap. As they have in the past, the two companies have since exchanged spots again, and they'll likely continue to do so in the future.
Despite its high profile struggles with Windows phone, Microsoft has been on an upward trajectory since CEO Satya Nadella officially took over in 2014. As noted by CNBC earlier this week, Microsoft has seen a growth of 40 percent in the past 12 months. That's in large part due to the company's continued growth in its cloud and commercial services. That's particularly true in the enterprise sector, which has become an increasingly important part of Microsoft's business.
Aside from its cloud business, Microsoft is now focusing its efforts on the burgeoning fields of AI, quantum computing, and mixed reality. The company recently underwent a major reorganization of its internal teams to reflect this – the effects of which are still being felt.
There's still plenty of time left in the trading day here in the U.S., so the stock price could very well dip back below $100. Still, it represents a major milestone for the company as it continues to compete with Google, Amazon, and Apple.
Here's to hoping you bought some Microsoft stock when it was cheap!
Updated June 1, 2018: Updated to clarify that Microsoft's stock indeed traded above the $100 mark before accounting for stock splits in the '90s.