microsoft MSFT stock hit an all-time high on Friday as the company prepares to unveil its latest advances in artificial intelligence at a conference next week.
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In today's stock market intraday trading, Microsoft stock hit an all-time high of 370.09. This move pushed MSFT stock above the cup base with a buy point of 366.78, according to IBD MarketSmith charts. It closed regular trading at 369.67, up 2.5%.
Microsoft stock has been plummeting recently. It rose for nine consecutive days until Thursday, but fell 0.7% on Thursday to close regular trading at 360.69. This winning streak is the longest since November 2019, when the stock also rose for nine consecutive business days.
Microsoft has continued to perform well since the Beat and Raise earnings report released on October 24th. The Redmond, Wash.-based company credits its cloud computing business for better-than-expected first-quarter results.
Microsoft CEO Satya Nadella touted the company's AI efforts, including its Copilot product, on a conference call with analysts.
Microsoft stock appears on 4 IBD lists
Microsoft will discuss its latest AI efforts in a keynote at the Ignite conference in Seattle on Wednesday. That could be the next catalyst for MSFT stock.
Microsoft stock appears on 4 IBD stock lists: IBD 50, Leaderboard, Big Cap 20, and Tech Leaders.
Additionally, Microsoft is one of the Magnificent Seven stocks.Others alphabet (Google), Amazon.com (AMZN), apple (AAPL), meta platform (meta), Nvidia (NVDA) and tesla (TSLA).
Follow Patrick Seitz on X (formerly Twitter). @IBD_PSeitz Check out more articles on consumer technology, software, and semiconductor stocks here.
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