, one of the largest tech stocks in the world by market cap, has come under pressure as the growth-to-value rotation rolls on.recouped losses to close flat."I love Microsoft. It's one of my favorite long-term growth stocks. It's just so consistent. They have so many different product segments that are continuing to grow.
"I think this is a fantastic pullback buy. It bounced gorgeously at the [100-day moving average], and I'm targeting $270 in the near term," Shay added.Shay isn't the only one backing Microsoft. The stock has an average buy rating on Wall Street. Craig Johnson, chief market technician at Piper Sandler, also counts himself as optimistic.
"This is a bullish chart," Johnson said in the same interview. "We just pulled back right toward the lower end of this upward trending price channel and it looks like one that should be bought."