Microsoft Stock
Microsoft stock is currently in range from a 180.10 handle in what's either a cup-with-handle or double-bottom base. MSFT stock, which has found support at the 21-day line a few times in recent weeks, is also close to an alternate entry of 187.61. In this case, this tight trading has formed essentially another handle within the base.
On June 5, the Dow tech giant rose to 187.73, briefly clearing the new entry before closing just below that key level.
The relative strength line has pulled back in the past few weeks as Microsoft stock moved sideways while the broader market spiked. But MSFT stock outperformed through the market crash and in the current stock market rally. The RS line, the blue line in the charts below, tracks a stock's performance vs. the S&P 500. The stock has a near-perfect IBD Composite Rating of 98.
Microsoft stock has been outperforming the S&P 500 index for years. So it's no surprise that MSFT stock is a member of the prestigious IBD Long-Term Leaders list. Stocks on this list stabilize your portfolio but quietly deliver stellar long-term gains. To qualify as a Long-Term Leader, a stock has to have stable earnings, stable price outperformance and high-quality institutional sponsorship. These stocks can be bought on pullbacks or on breakouts.
Microsoft earnings growth has been strong, fueled by cloud-computing services that are in high demand during work-at-home coronavirus shutdowns. On April 29, the Microsoft earnings report for fiscal Q3 showed a 23% EPS gain while revenue rose 15%, the best top-line growth in six quarters.
Microsoft's Commercial Cloud business saw revenue jump 30% year over year to $13.3 billion in its fiscal third quarter. Its Azure cloud-computing services surged 62%. The Microsoft Teams video-calling, chat and collaboration suite keeps workers connected.
Analysts see Microsoft earnings rising 20% in fiscal 2020 and 9% in 2021.
Microsoft stock is one of only a handful of U.S.-listed companies with trillion-dollar market caps. Indeed, Microsoft stock is once again worth more than Apple, for now. In this case big is beautiful as Microsoft stock has a perfect IBD Composite Rating of 99.
For a deeper look at Microsoft, check out this recent New America profile.
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