Microsoft bagged a highly sought after $10bn cloud computing contract from the US Department of Defense last week, a huge win for a company that many had written off in the competition against Amazon.
Although there may have been other factors in Microsoft’s victory — President Donald Trump reportedly lobbied against Amazon due to its founder Jeff Bezos’s ownership of the Washington Post — it symbolised a revival of fortunes for some of tech’s old guard.
The post-crisis bull market has been dominated by technology stocks and especially fast-growing, glamorous names such as Facebook, Amazon, Netflix and Google.
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