Shares of Microsoft Corp. /zigman2/quotes/207732364/composite MSFT -2.44% rallied 4.21% to $323.17 Wednesday, on what proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index /zigman2/quotes/210599714/realtime SPX -2.27% falling 0.51% to 4,551.68 and Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -2.53% falling 0.74% to 35,490.69. This was the stock's second consecutive day of gains. Microsoft Corp. hit a new 52-week high, surpassing its previous peak of $312.40, which the company achieved on October 26th.
The stock demonstrated a mixed performance when compared to some of its competitors Wednesday, as Apple Inc. /zigman2/quotes/202934861/composite AAPL -3.17% fell 0.31% to $148.85, Alphabet Inc. Cl A /zigman2/quotes/202490156/composite GOOGL -2.69% rose 4.96% to $2,924.35, and SAP SE ADR /zigman2/quotes/207905606/composite SAP -2.23% fell 0.58% to $144.88. Trading volume (52.3 M) eclipsed its 50-day average volume of 22.8 M.