Microsoft is the only one of the 7 magnificent – the most valuable technology companies in the US – whose market value has grown since early 2025. Well -positioned in the dispute for artificial intelligence and other revenue lines, the company has been able to cross the turbulence caused by the tariff war promoted by US President Donald Trump.
Since the beginning of the year, Alphabet’s actions – Google controller – (), Goal – Facebook controller – (), Microsoft (), Nvidia (), Apple (), Amazon () and Tesla () have undergone readjustments in their prices, which led to the fall of market values in the first months.
Throughout this period, the market values of the main technology companies were below that of January 1. This changed on May 1st, when the market cap From Microsoft closed at $ 3.162 trillion, sing $ 3.134 trillion at the beginning of the year, according to a survey by Economatica.
More: The Windows developer is getting closer to becoming the most valuable among her peers, reducing the distance to Apple, whose market value was $ 3.205 trillion on the same date.
Results Season
The technology companies’ results season in recent weeks has reinforced Microsoft’s advantage after release of $ 70.1 billion revenue in the first quarter, an increase of 13% compared to the same period last year.
“The great advantage of Microsoft is that it has managed to increase revenue in all its main segments. This has not happened to other companies,” says XP global analyst Maria Irene Jordão.
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Although the highlight is the growth of the cloud division – 21% in the annual comparison, positive signaling for partnership with OpenAi and the application of general AI in its solutions – Big Tech also seems to have a more protective product mix against the uncertainties of the macroeconomic scenario.
BTG highlights Microsoft as the main choice of the broker among the giants of technology. “With much of the revenue from the Corporate Market (B2B), the company benefits from greater predictability and less sensitivity to tariffs, which supports our most constructive view,” says analyst Marcel Zambello in a report.
The company’s revenue with Office 365 products was $ 21.9 billion in the first quarter of 2025, equivalent to 31% of the total. In this group include corporate productivity programs such as Power BI, Word and PowerPoint, whose longest and low -competition contracts make the company less sensitive to Voltatidades.
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Effect of tariffs
As Jordan explains, markets started the year waiting for a dollar appreciation in the Trump administration. With the tariff, the effect was the opposite: a depreciation of the American currency.
For companies with global operations such as Big Techs, dollar appreciation means losing money on local currencies and repatriates to their headquarters in the United States. “In the end, the most acute depreciation of the dollar was a relief for the results of this quarter,” explains Jordan.
The problem is that these companies now face the global fear of a recession in the United States and slowdown in the global economy. Competitors like Google and Meta, whose main recipes come from the advertising line, are more sensitive to economic cycles. Due to the nature of its corporation product line, Microsoft tends to be less impacted by the same cycles.
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Microsoft approaches Apple while Tesla lives difficulties
A survey by Einar Rivero, from Elos Ayta, estimates that the 7 magnificent lost $ 2.27 trillion in market value since April 1, the day before the announcement of US import tariffs made by Trump.
Apple, S&P’s most valuable company, suffered the biggest impact: a 22.9% retreat on market value by April 8. Tesla and Meta even dropped, respectively, 21.5% and 17%.
Although the companies recovered value throughout the month, the movement brought Microsoft closer to Apple. The market value of the iPhone developer in early May was US $ 3.2 trillion, compared to US $ 3.16 trillion from Bill Gates, valued at 13.91% between April 1st and May 1st.
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The Tesla, by American billionaire Elon Musk, was the most penalized company among the “magnificent” pairs in 2025. Economatica data show that she was no longer one of the seven with the highest participation in S&P 500: Berkshire Hathaway and Broadcom exceeded the electric car developer between February and March this year.
It has been treated as a damage to Tesla’s brand. In addition to dealing with the growing competition from Chinese brands, the automaker has been facing protests in some of its stores in the United States and Europe, as well as a sequence of recalls of its main launch of recent years, Cybertruck.
In April, the company’s shares reacted positively after the Trump government’s Department of Efficiency (DOGE). The gains were 16.33% since the announcement on the 22nd.
For now, Microsoft has also been spared antitrust processes that have reached rivals such as Alphabet and Meta. The Google controller has responded to several American judges in cases involving their browser, the operating system, and the antitrust authorities.
