Microsoft Corp. (NASDAQ: MSFT) shares rose to a new all-time high Thursday, a week after reporting earnings that beat expectations, and affirmed its place as the Dow’s best-performing stock for the year to date. The stock added 1.33% for the week (including a dip of 1.7% on Friday). For the year to date, Microsoft shares have risen by 25.9%.
The second-best performer among the Dow Jones industrial average equities so far this year is Visa Inc. (NYSE: V), which is up 23.4%. That is followed by Nike Inc. (NYSE: NKE), up 22.9%, Boeing Co. (NYSE: BA), up 222.3%, and UnitedHealth Group Inc. (NYSE: UNH), up 16.1%. Of the 30 Dow stocks, 17 have managed to post a gain to date in 2018.
The blue-chip index added nearly 393 points over the course of the past week to close at 25,451.06, up about 1.5% from the previous Friday’s close. For the year to date, the index is up just 0.4%. The Dow closed up less than 1% for the second quarter but down 1.8% for the first six months of 2018.
Tech stocks had a tough week. First Facebook reported that growth was not as high as expected and the stock dropped 20% overnight. On Friday, Twitter and Intel earnings reports did the damage. The entire tech sector shared the pain, losing nearly 1.2% over the course of the week, including a 2% loss on Friday alone.
Microsoft’s story since reporting earnings has been one of ratings upgrades and price target increases. Here are some highlights:
- JPMorgan: maintained Buy rating with a new price target of $115
- KeyCorp: maintained Overweight rating and raised price target from $110 to $123
- Citigroup: maintained Neutral rating and boosted price target from $100 to $113
- Wells Fargo: raised rating from Outperform to Buy and raised price target from $115 to $120
- Sanford C. Bernstein: maintained Buy rating and set a price target at $135
- Goldman Sachs: maintained Buy rating and set a price target at $125
Microsoft’s shares closed Friday at $107.68, in a 52-week trading range of $71.28 to $111.15. The consensus 12-month price target on the stock rose by more than $8.00 a share week over week to $121.67.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
