Microsoft drops after UBS analysts warn of weakness in the cloud
Publishing timestamp: 2023-01-04 17:16:01
Summary
Shares of Microsoft dropped on Wednesday after UBS downgraded the stock to neutral from buy. UBS analyst Karl Keirstead said the latest round of field checks into the business lowered the bank's confidence in the stock. Keirstead pointed to concerns at Azure, Microsoft's cloud computing platform, and Office 365. Google analysis shows Azure ending 2022 fiscal year with operating loss of almost $3 billion. Other tech stocks rose Wednesday.
Sentiment: NEGATIVE
Tickers: GOOGL, TSLA, MSFT, AAPL, META,
Keywords: internet, alphabet class a, apple inc, enterprise, business news, technology, microsoft corp, meta platforms inc, tesla inc,