Microsoft Corp. hit record share prices in Friday trading, pushing its market cap past $650 billion just a week after the company pushed past $600 billion for the first time since the dot-com boom. The stock hit an intraday record of $86.25 after Microsoft announced a big earnings beat Thursday afternoon, a 9.5% gain that was Microsoft’s biggest intraday move in more than two years. FactSet tracked 19 analysts raising their price target on Microsoft after the earnings, with one rating change from hold to buy and one downgrade from buy to hold. Microsoft was battling Intel Corp. , which also spiked after a strong earnings report, for the best-performing component of the Dow Jones industrial average , which was also gaining on the day.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News