Shares of Microsoft have surged a whopping 14% over the last month. How should you play Mr. Softee now?
As we told you back on Tuesday June 16th Microsoft may be setting up nicely. At the time Jefferies raised its price target on the software maker to $26 from $22 and recommended it as a buy ahead of a possibly large, rapid corporate PC upgrade cycle starting in late 2010.
Take Your Position
Jefferies said it expects customers to upgrade directly from the Windows XP operating system to Windows 7 starting in 2010 as Microsoft ended support for Windows XP in April.
And Jim Goldman, CNBC's Silicon Valley Bureau Chief, added that Microsoft's new Bing search engine should also provide a tailwind for the company.
But is it all priced in now?
I don’t think so, says Brendan Barnicle of Pacific Crest Securities. Windows 7 is probably not baked in. And in terms of Microsoft’s Bing search engine, I think they’ve got something there.
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