Will Microsoft trigger a broad tech rally on Friday?
"Yes I think it will," says top trader Jon Najarian. Bulls have every reason to be hopeful.
Microsoft earnings came in better than expected with money pros interpreting results as a sign that PC sales are holding up better than expected.
For example, the company’sWindows division reported a 4% pop in revenue while Microsoft’s Business division said revenue increased by 9%.
"Perhaps the demise of the PC is not as great as everyone is anticipating,” says Edward Jones analyst Josh Olson in a Reuters interview. “It looks like the PC is showing a little resiliency.”
“I agree that all this talk about the PC market dying is way overblown, adds BGC Colin Gillis on CNBC’sFast Money. "This is the 7th consecutive quarter in a row that Microsoft has put up north of $5 billion in net income.”
As more investors subscribe to this line of thinking, we could see a spate of buying. "I love computers, here," Najarian tells us.
If you’re a trader looking for a specific name to play, Gillis says even after the pop Microsoft remains a buy. “It’s a name for value players and those seeking dividends and people who want a little less volatility.”