TradingKey – Microsoft (NASDAQ: MSFT) extended its rally on Monday, rising some 4.7% to near $487 as it nears its record high of $553.72. The stock has climbed almost 22% in the last week, with a record-breaking one-day jump last Thursday that put approximately $450 billion into Microsoft’s market value.

The rally comes after Microsoft fell over 20% earlier this year following concerns about the software industry. Now investors are looking to the company’s artificial intelligence and cloud operations to maintain solid growth.