Microsoft’s Stock Hits an All-Time High

Dan Frommer:

Microsoft’s stock price reached an all-time high today, beating a previous record set in 1999 (!) in the heat of the dot-com bubble. Shares opened this morning at $60.31 — up 5 percent from yesterday’s close — and reached $60.45 in morning trading before settling.

Why is Microsoft setting share-price records in 2016?

Most importantly, investors seem to think its transformation under CEO Satya Nadella — from a company that sells Windows and Office licenses (often on discs and in cardboard boxes) to a company that sells access to software and services in the cloud — is working.

Pretty good start for Satya Nadella.

★ Friday, 21 October 2016