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MSFT Stock Down 1% Yesterday but Microsoft Is Still the King of the Market

Microsoft Corporation (NASDAQ: MSFT) stock did a slide of 1.21% to trade at $171.42 as the market closed on April 23. In the extended hours, the stock was trading at $170.50, which is around 0.54%. Today in the pre-market, teh stock was 0.60% up. Despite the small falls, Microsoft remains the undisputed king of the coronavirus stock market. Its market cap is $1.3 trillion. The company is followed by Apple Inc (NASDAQ: AAPL) with $1.2 trillion and Amazon.com Inc (NASDAQ: AMZN) with practically the same market cap.

According to data provided by TradingView, Microsoft held the number one position amongst all companies with a market cap of $10 billion and above. The site has given the company’s stock a buy rating, whereby it holds a market cap of 1303.829 billion, and a volume of 32.79 million at the time of reporting.

The tech company, which specializes in developing a wide range of software products, has been benefiting from some of the measures put in place to combat the spread of the virus. Most people are being advised to observe social distancing, and if possible they should remain at home to avoid contracting the deadly virus. 

As a result, most companies and businesses which can operate remotely have resulted in advising their employees to work from home. With Microsoft offering tools that can assist in remote and home office working, it is set to benefit a lot from the large number of people leaning towards its services.

Its stock has reaped huge as most investors did flee from the volatile and the so considered risky market during the beginning of the coronavirus outbreak. Over the past 12 months, its stock has risen 37.94%, the Wall Street analysts gave it a strong buy.

Another rating by Investorsobserver’s proprietary ranking system gave it a score of 73 out of a possible 100. Investorsobserver ranking system is influenced by a long-term technical score of 98, and also a short term technical score of 92. However, the company scored a 29 in the fundamental analysis. The analysts also gave it a target price of $188.5, which will reciprocate to 9.31% rise in the next 12 months.

A lot will be clear in the Microsoft stock market once the company reports its first-quarter results scheduled on April 29. Most experts and investors will be in a better position to make a decision based on both technical and fundamental analysis.

Last year a time like now, Microsoft businesses generated $30.6 billion in sales, which was 14% higher year-over-year. With the ongoing coronavirus crisis globally, the company may not be in a position to match such results.

However, with it remaining a better option to invest in, its stock value may continue rising amid coronavirus.

MSFT Stock Down 1% Yesterday but Microsoft Is Still the King of the Market

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