Tech company earnings have been forecasted to grow by 15.3% in 2013, but so far this year, technology stocks have severely underperformed the market.
Today Microsoft (MSFT) broke past the $30 level for the first time since November 6, 2012; a close above this level would be the stock's first since October 4, 2012. Microsoft has been trading above its 200-day and 100-day moving averages, $28.81 and $27.60 respectively, since February. The stock has also recently passed the 50-day and 20-day indicators, $27.91 and $28.21 respectively.
[More from Minyanville.com: Tech News: Apple Scores Patent for Buying Songs Offline ]
This surge may prove temporary, as many analysts are concerned about the long-term growth outlook for the PC industry. Capitalizing on mobile has thus far proven elusive for Microsoft, with Windows 8 sales numbers softer than expected. The company is next scheduled to report earnings on April 18.
[More from Minyanville.com: The PC Isn't Dead, It's Just Gone 'Ultramobile' ]
My trade: MSFT April 30-29-28 put fly for $.16
Risk: $16 per 1 lot
Reward: $84 per a lot
Breakeven: $28.16 and $29.84
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