Microsoft's strong Q4 performance sent the stock up 8% in pre-market trading, extending its impressive rally of over 50% since its April low of around $350

What Happened? Shares of tech giant Microsoft (NASDAQ:MSFT) jumped 4.5% in the afternoon session after the company reported impressive fiscal fourth-quarter earnings that surpassed analyst expectations,

Stocks rose in morning trading on Wall Street Thursday and are on track for more record highs amid rallies for big technology stocks.

And both Meta and Microsoft were already on track to spend more than 30% of this year’s revenue on capital expenditures, compared with about 15% to 20% historically. Those outlays were already beginning to look like mere table stakes after Google parent Alphabet used its report last week to bump up its own capex spending plans for this year to $85 billion.