What Happened? Shares of tech giant Microsoft (NASDAQ:MSFT) jumped 2.6% in the afternoon session after investor optimism continued as the company received a series of analyst price target upgrades. The move followed the company's strong fourth-quarter earnings report from the prior week.

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

Microsoft’s stock is often “a safe place” for investors to be between earnings reports, analysts at Guggenheim Partners said in a client note on Thursday. And after its June-quarter results, the analysts said “future estimates no longer look challenging,” therefore making the “‘safe period’” likely to extend longer.