Microsoft has a surprising fan.
Former Apple (AAPL - Get Report) CEO John Sculley told TheStreet that it would be worthwhile to add Microsoft (MSFT - Get Report) into the red-hot FANG stock classification. Shares of the once sleepy tech giant are up 27% this year on the back of momentum for cloud services and LinkedIn. "I don't think anybody has done a better job of reinventing a corporate culture than Satya Nadella [Microsoft CEO]," Sculley said. "It's just incredible what he has accomplished in four years, it's a different company."
The FANG space could use a bit of a jolt.
The group declined 1.7% Monday for a fifth straight session of losses. That represents the most extended session in the red since before the November election, according to data obtained by Bloomberg. Even still, FANG is up an impressive 38% year to date.
"I think FANG stocks have a good ways to go," Sculley said on the potential for names like Facebook (FB - Get Report) , Apple (AAPL - Get Report) , Netflix (NFLX - Get Report) and Alphabet's Google (GOOGL - Get Report) . "The reason I say that is that there are a small group of companies with extraordinary leadership that are in the right place at the right time -- if you look at the most powerful names in market today, they are Amazon, Facebook, Google."
And yes, Sculley has used a Microsoft Surface tablet and likes it.
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