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December 19, 2006

MSFT blows over $30, finishes today at $29.99

Posted by Benjamin J. Romano at 2:02 PM

In the midst of wind storms and a power outage at Microsoft's campus late last week, the company's stock did something it hasn't done since April 1, 2002: Closed above $30.

Microsoft shares have bumped against that "ceiling" a few times in the last four years, but the $30.07 close on Thursday was the first time they finished above the mark. They did it again on Friday, closing at $30.19, which tied the April 1, 2002 price. Shares fell to $29.89 on Monday, and finished today at $29.99 after flirting with another $30+ finish.

Breaking through that $30 mark, viewed by some as a psychological barrier, continued the run MSFT has been on since June 13, when it bottomed out at $21.51. As of today, it's up 39.4 percent since then.

Update: Bloomberg lists 41 analysts who cover Microsoft. Of those, 20 have price targets for the stock. The average target is $32.07, with a high of $35 (four analysts) and a low of $20 (one analyst, last updated April 28).

Word is there's another small storm heading for the region later in the week. We're not saying the weather has anything to do with the stock price, but we'll be watching closely, just in case.

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Tricia Duryee
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