It took 17 years, but Microsoft has eclipsed its all-time stock high.
The company, under the leadership of CEO Satya Nadella, closed the week at $59.66, a four percent gain following stronger than expected earnings on Thursday. Shares have surged 25 percent in the past 12 months, bolstered in part on Nadella’s vision of Microsoft as a cloud computing powerhouse.
Friday’s close topped the close of $58.72, set in December 1999 amid the run-up of technology stocks in the dot-com heyday.
Nadella even got praise from former Microsoft CEO Steve Ballmer, who appeared on CNBC this week and noted that his successor was doing a good job of expanding the company’s cloud business.
Nadella was named CEO in February 2014, and has rebuilt the company’s status as a tech powerhouse. A number of stock analysts this week upgraded their outlooks on Microsoft, and MarketWatch even dubbed the company the “comeback kid.”
Here’s a look at Microsoft’s stock rise in the past five years. It now has a market value of $461 billion.
Editor’s note: This post has been updated with the correct closing stock price.