Is Microsoft Still A Buy Or Did You Miss The Boat?
Kiana Danial | Jun 18, 2020 08:10AM ET
Microsoft (NASDAQ:MSFT) reinvented itself in 2014 when new CEO Satya Nadella took over. Since then, the stock has been in comeback mode. Even though it took a hit in March 2020 due to COVID-19, the Microsoft stock price was able to completely make up for the losses and reached a new all-time high level on June 10th, 2020.
Now the question is, will its price go back down again so we can buy at a cheaper price, or did we miss the boat?
Different Microsoft Products
There’s a Microsoft that many of you know and use on a daily basis, with products including Microsoft 365, Microsoft Office, Windows, Outlook, Word, and OneDrive among others. But then there’s a Microsoft you may not know much about including Microsoft AI, and Microsoft Azure, which is their cloud computing service.
How Wall Street Ranks Microsoft Stock
Morning Star believes Azure is the centerpiece of the new Microsoft, and that it has several distinct advantages, including the fact that it offers customers a painless way to experiment and move select workloads to the cloud. They have ranked the Microsoft stock with 3 stars. Seeking Alpha and Benzinga are both neutral on the MSFT stock at the time of writing.
Microsoft stock has been in my top-long term hold list.
Technical Analysis
The stock price has reached a new all-time high level. However, it may find resistance soon at around $200 or $210. In that case, we could expect a pullback towards key Fibonacci retracement levels of $177, $168, and $161 respectively.
The price remains above the daily Ichimoku cloud. Medium-term profit targets are at $227 and $238 respectively.
*This article was originally published on Invest Diva:
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