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The Nasdaq, reflecting the rebound of technology stocks during the quarter, rose 2.7percentt, after slipping slightly in the first quarter.
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Stocks fell yesterday, driving the Standard & Poor's to its lowest level since 1997, as companies including Automatic Data Processing, Eli Lilly and PNC Financial Services lowered profit forecasts and executives said there was little sign of a rebound in technology spending by businesses.
The stock has failed to take full advantage of the recent rebound in technology stocks, and it currently sits on a year-to-date loss of more than 22% compared to the tech-laden Nasdaq Composite's (COMP) decline of roughly 7%.
Microsoft shares plunged in 2000 with the general collapse of technology stocks, but the stock has rebounded this year.
Surging oil prices, tensions in the Middle East and the continuing slide of technology stocks have all contributed to a rebound for Mr. Henry's funds.
But those results were fueled by a rebound in technology spending at corporations, many of which held off replacing older computers during the recession.
But the computer giant urged Wall Street to interpret the report as an indication of its strength, not a general rebound in technology spending.
European stockmarkets were lifted this week by a rebound in technology and telecoms shares after Italy's auction of third-generation wireless licences.
"In the annals of corporate missteps, there are few parallels to such a rebound from what once looked like a death spiral, especially in the momentum-driven world of technology".
"The improved profitability of technology firms, and the pickup in corporate activity, particularly mergers and acquisitions, has led to a rebound in advertising at Dow Jones".
As well as the launch of new products, including Office 2010 earlier this year, Microsoft has benefited from a rebound in technology spending.
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