Microsoft shares spike ahead of Xbox reveal

Microsoft shares spike ahead of Xbox reveal
Seth Tipps

By Seth Tipps

May 2nd 2013 at 8:43AM

Tech giant's stock value hits five-year high

The value of Microsoft stock hit a five year high on Tuesday, closing at $33.10.

The new Xbox will be revealed to the public later this month, and it seems investors are betting on it being a hit.

Also bolstering Microsoft's value is the success of its enterprise and cloud service business.

The company posted $6 billion in profits for the third quarter.

In the past investors have been concerned that Microsoft didn't have anywhere to go; the company was the most valuable stock on the market at one point, and it seemed unrealistic to assume further growth.

The possibilities afforded by new revenue models, the entertainment options of the new Xbox, and a burgeoning cloud business could very well be changing that.