Microsoft stock jumps on Windows 2000 RTM news

News of the release of Windows 2000 sent Microsoft Corporation's stock soaring almost 10% Wednesday, catapulting it to the highest price ever, 108. Windows 2000, which was originally scheduled for release over a year ago, is widely praised for its stability and reliability, qualities that the company's partners say is worth the wait. Indeed, Microsoft had 100 of its closest business partners sign off on Windows 2000 earlier this week before it would declare the product finalized. On Tuesday evening, Microsoft determined that it passed its own internal tests and Windows 2000 was completed.

Adoption of Windows 2000 is expected to be rapid, despite a relatively low-key launch event due in February. According to IDG, over 60% of the Fortune 500 intends to upgrade to Windows 2000 by the end of next year.

Additionally, Warburg Dillon Read raised its target stock price on Microsoft from $110 a share to $130 a share, citing a "meaningful upgrade cycle on the horizon" due to Windows 2000

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