Microsoft yanks Wall Street
Digest more
The Big Tech rivals are spending more than ever, but analysts are more concerned about Microsoft at the moment.
Three mega-cap tech companies reported earnings on Wednesday, and the market’s verdict was swift and brutal for one company while two Magnificent 7 members received stamps of approval. Microsoft (NASDAQ:MSFT) beat estimates with $4.
Meta gains on earnings beat. Microsoft outlines Q3 revenue target amid accelerating AI cloud demand and Copilot seat growth. Tesla beats Q4 expectations, gives upbeat outlook.
Shares dropped the most since March 2020 on Thursday, with investors fleeing the stock amid slower cloud growth and big spending on AI.
Microsoft (NASDAQ: MSFT) continues to provide investors with earnings beats and strong growth in its cloud, AI and gaming segments.
A day of dramatic swings on Wall Street, including Microsoft's worst drop in years and a sudden reversal for the price of gold, finished with only relatively modest moves on Thursday.
By Sinéad Carew and Pranav Kashyap Jan 29 (Reuters) - Wall Street's main indexes fell on Thursday with technology-heavy Nasdaq leading declines as investors were rattled by the latest earnings reports and worried about whether hefty spending on artificial intelligence would pay off for mega‑cap tech companies.