Microsoft Corp. shares rallied 0.8% in Tuesday’s session to post a new record close of $189.80. This marked the stock’s first record high since Feb. 10, according to Dow Jones Market Data. Shares climbed as high as $190.70 in intraday trading Tuesday, matching its highest intraday level since Feb. 11. Microsoft was the fourth-most-active stock in the Nasdaq 100 on the day. In a Tuesday research note examining whether stocks that have benefited from work-from-home trends could keep their rallies going, Morgan Stanley analysts highlighted Microsoft as one of their favored stocks. “We tend to favor those names where [total addressable markets] have expanded or competitive landscapes are more differentiated,” including Microsoft, they wrote. Their recent survey of chief information officers found an “incumbency advantage” as companies “mostly relied on incumbents” to deploy technologies that would enable remote work. Shares have gained 18% over the past three months as the Dow Jones Industrial Average has added 9%.
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