Microsoft closes week at all-time stock high of $59.66, eclipsing previous 1999 record and signaling new era

Microsoft CEO Satya Nadella. (GeekWire File Photo)Microsoft CEO Satya Nadella. (GeekWire File Photo)It took 17 years, but Microsoft has eclipsed its all-time stock high.

The company, under the leadership of CEO Satya Nadella, closed the week at $59.66, a four percent gain following stronger than expected earnings on Thursday. Shares have surged 25 percent in the past 12 months, bolstered in part on Nadella’s vision of Microsoft as a cloud computing powerhouse.

Friday’s close topped the close of $58.72, set in December 1999 amid the run-up of technology stocks in the dot-com heyday.

Nadella even got praise from former Microsoft CEO Steve Ballmer, who appeared on CNBC this week and noted that his successor was doing a good job of expanding the company’s cloud business.

In the most recent quarterly report, Microsoft said that its cloud computing business posted $6.4 billion in first quarter revenue, accounting for 29 percent of total sales.

Nadella was named CEO in February 2014, and has rebuilt the company’s status as a tech powerhouse. A number of stock analysts this week upgraded their outlooks on Microsoft, and MarketWatch even dubbed the company the “comeback kid.”

Here’s a look at Microsoft’s stock rise in the past five years. It now has a market value of $461 billion.

Editor’s note: This post has been updated with the correct closing stock price.


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One Response to Microsoft closes week at all-time stock high of $59.66, eclipsing previous 1999 record and signaling new era

  1. Jack_G_Fuller says:

    Adjusted for inflation, no gain.

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