Shares of Microsoft (MSFT – Free Report) popped to touch a new 52-week and all-time on Monday. Now the question is should investors consider buying MSFT stock, even at its new high, as the likes of Google (GOOGL – Free Report) and Facebook (FB – Free Report) face more pressure in Washington and Europe?
Recent News
No must-buy news broke about Microsoft Monday, so let’s look at some recent news to help explain why MSFT stock continues to climb.
Microsoft is reportedly scheduled to conduct a major media event in New York City on Tuesday. The event will focus on the company’s new Surface products along with a look into its productivity initiatives. Investors should pay attention Tuesday to see if any significant product or other announcement are made.
At the end of the last week, Microsoft announced a new partnership with Volkswagen that will see the automotive firm utilize MSFT’s Azure cloud and IoT Edge platform as the “technology foundation” for its connected vehicle push. This move highlights the strength of Microsoft’s growing cloud computing and IoT business, as it expands beyond its traditional hardware and software.
Microsoft held 14% of the cloud market last quarter, which was good enough for second-place behind Amazon’s (AMZN – Free Report) 34%. The firm also comes in well ahead of IBM’s (IBM – Free Report) 8%, Google’s 6%, and Alibaba’s (BABA – Free Report) 4%, according to Synergy Research Group.
It is also worth noting that Microsoft’s board approved last week a $0.04 or 9.5% quarterly dividend increase to $0.46 per share, payable on December 13 to shareholders of record by November 15.
