Microsoft is en route to top $1 trillion in market cap today.
Microsoft (MSFT) shares were up nearly 5% in premarket trading at $131.15, forecasting a valuation above the psychologically-important $1 trillion mark at the market open.
The tech company was boosted by Wednesday's first quarter earnings report. Microsoft reported a 41% jump in revenues for its commercial cloud business.
Apple (AAPL) is the only US company that has reached the $1 trillion market capitalization valuation so far, zooming past the mark last year. On Wednesday, Apple's market cap stood at round $977 billion at the close. With the company's earnings due on Friday, it could rally to top the key level again.
Amazon (AMZN) is in a similar boat, with its market cap standing at $936 billion at Wednesday's close. Amazon is reporting later in the day and could take course on the $1 trillion valuation.