Why Microsoft Stock Can Keep Reaching New Highs
Microsoft (NASDAQ:) stock has surged 47% in 2019 and is near its all-time high. Pretty much everyone on Wall Street thinks that the record rally of MSFT stock will continue. According to TipRanks, all 26 Wall Street analysts who cover Microsoft stock have a “Buy” rating on the shares, and their average price target is about $160.
Normally, I’d say that such overwhelmingly upbeat sentiment is too bullish. MSFT is a red-hot tech stock, up nearly 50% so far this year and at all-time highs. Every analyst has a “Buy” rating on MSFT stock and expects MSFT stock price to climb further in 2020, In order for me to believe in the analysts’ outlook, I have to believe that the company’s underlying business is firing on all cylinders.
But that’s exactly what I believe. Its business is firing o ...