The Dow surged 669 points on Monday after trade tensions eased.
Tech stocks like Amazon and Apple saw gains, but the biggest winner of all was Microsoft .
The Seattle tech giant, which is a Dow 30 company, benefitted not only from the solid stock market day, but also because a Morgan Stanley analyst had kind things to say about it.
Keith Weiss wrote in a note to clients that he’s raising his 12-month price target to $130, an almost 50% increase from the $90 shares traded at last week. This would give the company a market cap of $1 trillion.
He’s particularly bullish on Microsoft’s cloud business. He believes that it will continue to do well, despite competition from Amazon and Google. He also likes the Office 365 software.
The race to $1 trillion has been talked about for several years. Apple is currently in the lead with a market cap of $877 billion. Amazon is at $753 billion. And After Monday’s strong day of trading, Microsoft is nearing it at $722 billion.
In general, stocks have done very well in recent years, with the Dow up nearly 10,000 points from where it was five years ago.
Microsoft is up 44% in the past year alone.
