Microsoft shares hit their first-ever high in nearly two months on Monday, as the stock rose 1% to $307.28, setting its first daily record since August 20. The company's shares rose for the fourth consecutive session, an increase of about 9% from the last lowest level.
According to Arab Net, Microsoft will be the first large technology company, its shares to return to record levels, after concern about high bond yields that have pressured the sector in recent weeks.
The record comes ahead of Microsoft's announcement of its first-quarter results for its fiscal year, which will be released on October 26.
Earlier, Morgan Stanley wrote that it sees momentum building through cloud and hybrid solutions, which should boost the company's performance in the first quarter.
Among other major technology and internet stocks, Apple shares rose 1.2%, Monday, while Alphabet rose 1%, Amazon rose 1.1%, and Facebook outperformed. With a gain of 3.3%. The Nasdaq 100 tech index rose 1%.
