Microsoft Corp (NASDAQ:MSFT) is making new all-time highs Wednesday following better-than-expected quarterly financial results.
What Happened: Microsoft reported adjusted earnings of $2.27 per share, which beat the estimate of $2.07 per share. The company reported quarterly revenue of $45.3 billion, which beat the estimate of $43.97 billion.
Microsoft expects second-quarter fiscal 2022 revenue to be in a range of $50.15 billion to $51.05 billion versus the estimate of $47.34 billion.
See Also: Analyst Ratings For Microsoft
Najarian’s Take: Market Rebellion co-founder Pete Najarian described Microsoft’s quarter as “extraordinary once again.”
The stock was a buy when Microsoft CEO Satya Nadella took over and the stock was trading at $40 and it’s still a buy today as it trades at all-time highs, according to Najarian.
“Everything that I heard on that call, everything Satya has been doing, I think, as a CEO for this length of time, has been absolutely done to perfection,” Najarian said Wednesday on CNBC’s “Fast Money Halftime Report.”
The growth is coming from so many different areas and Najarian expects the company to continue to expand.
“I think this is a company that continues to reimagine themselves into the future and they continue to go into other areas,” he said.
Najarian said Microsoft options contracts are “absolutely on fire” Wednesday, which is a testament to the appetite for the stock.
Microsoft is the best mega-cap tech stock to own right now, according to the Market Rebellion co-founder.
“I think this stock can stand up against anybody you want to compare it to,” he said.
MSFT Price Action: Microsoft was up 5.1% at $325.99 at time of publication.
Photo: courtesy of Microsoft.
