Can Microsoft stock rise above $300 amid strong fundamentals and record growth in Q4?ย
Microsoftโs stock goes from strength to strength, outperforming its peers, as the tech giant and the worldโs largest software-maker continues to benefit from the global digital transformation.ย ย
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The working-from-home and remote-schooling era has had aย largelyย positive impact on Microsoft’s various businesses, whichย showed significant gains across the boardย in the second quarter of 2021.ย
Microsoftโs recent earnings release, published on July 27, revealed that Microsoft exceeded analystsโ forecasts of $17.4 billion operating profit on $44.3 billion in revenue.ย
In fact, the companyโs financials showed operating profitsย rose to $19.1 billion on $46.2 billion revenue –ย aย 42% andย 21%ย year-over-yearย increaseย respectively.ย ย ย ย ย ย ย ย
Microsoft has also recently joined an ultra-exclusive club, becoming one of the two US companies to be valued above $2 trillion.ย The other, of course, being Apple, which currentlyย enjoysย a market capitalisation of $2.42ย trillion.ย ย
Microsoft stockย performanceย – YTDย
ย Microsoftโs share price is currently hovering near $289, registering a 30% gain since the beginning of 2021ย and according to the fundamental and technical analysis carried out by financial analysts, we can expect Microsoft to rise above $300 in the near-term.ย However, itโs important for potential investors to note that market analysis is based on current market performance and is not a guarantee of future results.ย
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