MSFT made fresh all-time highs overnight taking our paper profit to over 40%. The software giant said that second quarter sales rose by 17% which beat even the most optimistic analyst expectation. The move by corporates into the cloud to facilitate more flexible work arrangements the key.
Microsoft has actually been an underperformer in recent times and the overnight update should be enough to propel the stock to new all- time highs. The trend clearly remains strong here and we’re targeting US$260 in the short term.
MM remain bullish MSFT looking for a test of $US260, where we may trim the position
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