Microsoft Corporation (MSFT) Has Had An "Incredible" Run, Says Jim Cramer

We recently published Jim Cramer Discusses These 12 Stocks & Says Trump’s Winning. Microsoft Corporation (NASDAQ:MSFT) is one of the stocks Jim Cramer recently discussed.

Microsoft Corporation (NASDAQ:MSFT)’s fate on the stock market appears to have turned around as we start the year’s second half. The shares have gained 18.5% year-to-date, after having bottomed for the year and having lost 14% by late April. Since then, Microsoft Corporation (NASDAQ:MSFT)’s shares are up by 38% primarily on the back of investor bullishness about the firm’s AI initiatives. AI and cloud computing are the largest drivers of the share price, and the latest bullish rally in the shares came after the firm revealed in April that Azure revenue had grown by 33%. Microsoft Corporation (NASDAQ:MSFT) has also benefited from Apple’s woes and managed to surpass Apple’s market value this year. Here’s what Cramer said about the firm:

“[On his new acronym, MNM] Well what I did was take a look at what finished strong. And I’ve got to tell you, I mean first of all, Microsoft finished and that was just one incredible run. That is a higher multiple.”

Earlier, Cramer discussed the key drivers of Microsoft Corporation (NASDAQ:MSFT)’s share price:

“How did Microsoft. . .manage to triumph, especially when all their stocks had hit some pretty hideous darn levels early in the quarter?… Well, why don’t we start with Microsoft? Here’s the story you used to be able to set your clock on. It revolved around business software and Azure, that’s the cloud computing business. In January, Microsoft shocked the world by missing Azure’s numbers. Yep, they blew the estimates. The division grew 31%, but the Street was looking for 31.9%.

Coming from a company that rarely misses and almost always guides up, this was seen as a stunning defeat, and the stock dropped over 6% immediately. Stock dropped from $442 before it reported to around $345 at its lows in April. But when Microsoft reported again at the end of April, their Azure business actually grew at a 33% clip. I know it seems like nothing, a gossamer… but it drove the stock right up to $500 at the end of the quarter. On less than two percentage points of growth, the stock added over $150 and hit the new high list… So, what did we discover? Microsoft doesn’t miss more than once.”

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.