Apparently, investors think Microsoft’s making the right move with its Surface tablet computers.
Microsoft stock was among the most heavily traded stocks on the first day of trading after the company unveiled its Surface tablet computers late Monday.
MSFT jumped back into the $30 range, closing up 2.88 percent at $30.70. The gain was double the average of Nasdaq stocks and added about $7 billion to Microsoft’s value.
Perhaps $7 billion is what investors think the tablet business is worth?
Nvidia, maker of the Tegra chips that Microsoft used in the consumer Surface tablet, jumped nearly 7 percent, closing at $13.23.
Apple’s stock may have taken a small hit from the iPad’s new competition. It missed today’s market rally, closing almost flat with a 0.28 percent gain at $587.41.
Worse off were PC makers, suggesting that investors think Microsoft is going to win market share from its longtime partners.
Dell was down 2 percent at $12.18 and Hewlett-Packard was down 1.14 percent at $20.81.