Dow Jones News: Microsoft, Intel Hit the Ground Running in 2020
The Dow Jones Industrial Average (DJINDICES: ^DJI) soared on the first trading day of 2020, up 0.6% at 11:30 a.m. EST. The Dow was up around 22% in 2019.
Helping to drive Thursday's gains were two tech giants, Microsoft (NASDAQ: MSFT) and Intel (NASDAQ: INTC). Both stocks performed well in 2019, but each company will face some challenges in 2020 that could jeopardize an encore performance.
Microsoft had a great 2019. Revenue and earnings soared, thanks to the resilience of Office and the incredible growth of the company's cloud business. Microsoft secured the JEDI cloud contract from the U.S. Department of Defense, worth potentially $10 billion over 10 years. And the stock gained 55%, pushing the company's market capitalization well above $1 trillion.
Source Fool.com
