The Dow Jones Industrial Average (DJIA) rallied to record levels in November, hitting 30,000 and wrapping up its best month in more than three decades as breakthroughs in vaccines, spurred an investor shift toward sectors that were hardest hit by virus induced shutdown. Although it dipped slightly at the beginning of the month owing to concerns related to wrangling in DC over a potential stimulus package, the DJIA hit its all-time intraday high yesterday…
The Food and Drug Administration’s COVID-19 vaccine authorization for emergency use in the United States marks a significant milestone in the path toward an economic recovery and the world’s potential return to the “old normal.” This progress could result in a big stock market rally in the coming months. While the whole entire market is bullish about the swift roll out of the first of potentially several vaccines, the best-performing stocks of the DJIA should be among the frontrunners.
Microsoft Corporation (MSFT – Get Rating), Salesforce.com Inc. (CRM – Get Rating), Nike, Inc. (NKE – Get Rating) and Apple Inc. (AAPL – Get Rating) are four such DJIA stocks that are expected to hit new highs going into 2021 based on their solid revenue and earnings growth.
Microsoft Corporation (MSFT – Get Rating)
MSFT is one of the most prominent and successful players in the technology industry. Operating in through three segments — Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The company’s products have thrived, buoyed by demand for internet-based software and cloud services needed to accommodate a shift to remote working during the COVID-19 crisis.
On December 10th, MSFT and Deutsche Telekom Group announced a seven-year strategic partnership to help enterprises and individual customers accelerate digitalization and enhance productivity. This will enable MSFT to accelerate its innovation and deliver high-quality services based on customer demands.
The company has recently collaborated with Johnson Controls to digitally transform how buildings and spaces are conceived, built, and managed. MSFT also announced the availability of Microsoft Azure Digital Twins to support the entire ecosystem of building and device management technologies. This will allow MSFT to better meet the evolving needs of its customers.
MSFT’s revenue has increased 12.4% year-over-year to $37.20 billion in the fiscal first quarter ended September 30, 2020. Revenue from its the intelligent cloud segment increased 19.7% year-over-year to $13 billion, driven by growth in consumption-based services. And net income rose 30.1% from its the year-ago value to $13.90 billion, while EPS has grown grew 31.9% year-over-year to $1.82.
The consensus EPS estimate for the current quarter ending December 30, 2020 represents indicates an…
Continue reading at STOCKNEWS.com
