Microsoft hits 52-week high |
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Microsoft hits 52-week high
Microsoft shares are trading at a 52-week high today, at more than $31 a share. The bump comes after Thomas Weisel analyst Tim Klasell raised his revenue estimates for the company and increased his price target to $35 -- citing an improved outlook for hardware shipments and corporate tech spending going into 2010.
The price increase illustrates how much Microsoft's business still relies on core products such as Windows 7 and Windows Server, which would be chief among the company's products to benefit from increased IT spending and hardware shipments. The trend comes despite some negative press for Microsoft's mobile phone initiative in this morning's "Heard on the Street" column in the Wall Street Journal, and new details on Google's competing Nexus One Android device.
Google shares are down about a half-percent in trading today, to $619.70 as of 11 a.m. Pacific time. New numbers from Experian Hitwise show Facebook taking the title as the most-visited site in the U.S. on Christmas Eve and Christmas Day, dethroning the search king for the first time.
Apple, meanwhile, hit a record high of more than $211 a share in trading yesterday, which Bloomberg News attributed to holiday sales estimates and speculation about a possible Apple tablet computer, which the gadget blogs are betting will be called iSlate. On a related note, numbers from the NPD Group show Apple doubling its share of the U.S. mouse market, to 10 percent, after the release of its touch-sensitive Magic Mouse.
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