You are making too much of that $19 value for MSFT, it is a target I expect to be reached or exceeded, nothing magic and with no relationship with the naz in general. I expect INTC and AMAT to break $12, and if you do the same analysis you'll complain as to why should INTC and AMAT be so much weaker than the Naz (and has been so since the top at 5000.