Microsoft Hits 52-Week Highs - We Celebrate The Bull!
Read on.
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Bears Remain At Large.
Contrary to the evidence before us, bearish sentiment remains widespread. As we noted earlier in our MSFT 0.00%↑ earnings review (here), it’s hard to conclude the economy is in recession, or about to be, when one of its largest companies is delivering growth of +7% vs. the same time last year and indeed when just one quarter ago, that company said it expected +3% growth not the +7% growth they just achieved. There’s sandbagging and there is outperformance, and this is just outperformance.
We do expect some weakness in the Nasdaq in the coming days, before a renewed push upwards, but as to the retest of the 2022 lows, or the notion that this is a sustained bear market rally? This can always be true, but for now we see scant evidence of this, on Main Street or Wall Street. That Wall Street is telling folks to worry about a recession, every time they watch CNBC or read the Wall Street Journal? Sure, par for the course. Good way to keep taking money from Small Money and giving it to Big Money. But for now, we’re looking up in the coming months, any short-term correction notwithstanding.
As bullish spirits return, we’d like to offer you a discounted membership fee for our Premium and Pro tier subscriptions here at Cestrian Tech Select. You can sign up anytime between now and the end of April and pay 20% less, whichever tier you choose. If you’re a free subscriber here you can sign up for Premium or Pro from the link below, and if you’re a Premium member you can upgrade to Pro from the same link.
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Cestrian Capital Research, Inc - 26 April 2023.
DISCLOSURE - Cestrian Capital Research, Inc staff personal accounts hold long positions in MSFT 0.00%↑ .