I think this is just more fuel in the engine to drive this stock higher,” Wedbush analyst Dan Ives told Yahoo Finance Live. “It just shows [Microsoft CEO Satya Nadella] in this cloud arms race is continuing to gain share.”
According to Ives, Microsoft, which has seen its stock jump 39% year-to-date to $310.11 a share as of Tuesday, is set to cross the $400 threshold. The stock was up just over 3% on Wednesday morning, trading at roughly $319 a share.$Microsoft(MSFT)$
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