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Microsoft shares lag Big Tech peers as growth worries prompt UBS downgrade

Thursday, January 5, 2023
Microsoft shares lag Big Tech peers as growth worries prompt UBS downgrade © Reuters. FILE PHOTO: A Microsoft logo is seen in Los Angeles, California U.S. November 7, 2017. REUTERS/Lucy Nicholson/File Photo
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(Reuters) - Microsoft Corp (NASDAQ:MSFT) underperformed big technology peers on U.S. exchanges on Wednesday as its shares fell 5.3% following a downgrade by brokerage UBS on worries over slowing growth for its cloud services and Office suite.

After years of rapid growth in the cloud business that made Microsoft an investor darling, the Satya Nadella-led software giant is now battling lower spending by businesses reeling with rising borrowing costs.

Microsoft's Azure cloud unit "is entering a steep growth deceleration that could prove to be worse in FY23/FY24 than investors are modeling," lead analyst Karl Keirstead warned, adding the market could be reaching saturation.

UBS lowered the stock to "neutral" from "buy" and cut the price target by $50 to $250. That is lower than the median of $290 and the average "buy" rating from more than 50 analysts, according to Refinitiv data.

Microsoft's stock hit a near two-month low of $226, making it the biggest loser on the benchmark S&P 500 index.

It had lost 29% of its value in 2022, but outperformed Big Tech peers such as Alphabet (NASDAQ:GOOGL) Inc and Amazon.com Inc (NASDAQ:AMZN) in a dismal year for the rate-sensitive sector.

Declining spending on enterprise software from companies cutting costs and slashing jobs could also weigh on Microsoft's Office 365 business this year, Keirstead said.

"We don't have as much confidence in the stock ... (at current valuation) to see much (if any) multiple expansion," he said.

Shares of Amazon were also down 2% after UBS lowered the price target on the stock to $125 from $165 on concerns over slowing cloud growth.

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08-06-2023 09:03:41 (UTC+7)

EUR/USD

1.0710

+0.0010 (+0.09%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (1)

EUR/USD

1.0710

+0.0010 (+0.09%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (1)

GBP/USD

1.2448

+0.0009 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (2)

USD/JPY

139.93

-0.20 (-0.14%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (6)

AUD/USD

0.6663

+0.0011 (+0.17%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (5)

Sell (2)

USD/CAD

1.3362

-0.0008 (-0.06%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

EUR/JPY

149.85

-0.08 (-0.05%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (11)

EUR/CHF

0.9736

-0.0002 (-0.02%)

Summary

↑ Sell

Moving Avg:

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Sell (12)

Indicators:

Buy (2)

Sell (6)

Gold Futures

1,960.45

+2.05 (+0.10%)

Summary

↑ Buy

Moving Avg:

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Silver Futures

23.602

+0.073 (+0.31%)

Summary

Neutral

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Copper Futures

3.7523

-0.0032 (-0.09%)

Summary

Buy

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Crude Oil WTI Futures

72.34

-0.19 (-0.26%)

Summary

Neutral

Moving Avg:

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Brent Oil Futures

76.73

-0.22 (-0.29%)

Summary

Sell

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Natural Gas Futures

2.320

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Indicators:

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Sell (7)

US Coffee C Futures

186.10

+3.50 (+1.92%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (5)

Sell (0)

Euro Stoxx 50

4,291.91

-3.31 (-0.08%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (3)

Sell (5)

S&P 500

4,267.52

-16.33 (-0.38%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (4)

DAX

15,960.56

-31.88 (-0.20%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (4)

FTSE 100

7,624.34

-3.76 (-0.05%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (3)

Sell (5)

Hang Seng

19,135.00

-117.00 (-0.61%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

US Small Cap 2000

1,891.11

+35.71 (+1.92%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

IBEX 35

9,359.80

+49.00 (+0.53%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

BASF SE NA O.N.

46.450

-0.310 (-0.66%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (7)

Sell (0)

Bayer AG NA

52.13

-0.15 (-0.29%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (7)

Sell (0)

Allianz SE VNA O.N.

208.85

-1.65 (-0.78%)

Summary

Neutral

Moving Avg:

Buy (11)

Sell (1)

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Buy (2)

Sell (7)

Adidas AG

159.26

-0.42 (-0.26%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (1)

Deutsche Lufthansa AG

9.133

-0.008 (-0.09%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

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Buy (7)

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Siemens AG Class N

158.46

+0.10 (+0.06%)

Summary

↑ Buy

Moving Avg:

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Deutsche Bank AG

9.812

+0.028 (+0.29%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (5)

Sell (3)

    EUR/USD 1.0710 ↑ Buy  
    GBP/USD 1.2448 ↑ Buy  
    USD/JPY 139.93 ↑ Sell  
    AUD/USD 0.6663 Neutral  
    USD/CAD 1.3362 ↑ Sell  
    EUR/JPY 149.85 ↑ Sell  
    EUR/CHF 0.9736 ↑ Sell  
    Gold 1,960.45 ↑ Buy  
    Silver 23.602 Neutral  
    Copper 3.7523 Buy  
    Crude Oil WTI 72.34 Neutral  
    Brent Oil 76.73 Sell  
    Natural Gas 2.320 ↑ Sell  
    US Coffee C 186.10 Buy  
    Euro Stoxx 50 4,291.91 ↑ Sell  
    S&P 500 4,267.52 ↑ Sell  
    DAX 15,960.56 ↑ Sell  
    FTSE 100 7,624.34 Sell  
    Hang Seng 19,135.00 ↑ Sell  
    Small Cap 2000 1,891.11 ↑ Buy  
    IBEX 35 9,359.80 ↑ Sell  
    BASF 46.450 ↑ Buy  
    Bayer 52.13 Neutral  
    Allianz 208.85 Neutral  
    Adidas 159.26 Buy  
    Lufthansa 9.133 ↑ Buy  
    Siemens AG 158.46 ↑ Buy  
    Deutsche Bank AG 9.812 Buy  
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# So hôm qua # Chênh TG
SJC Eximbank6,635/ 6,675
(-10/ -10) # 1,130
SJC HCM6,635/ 6,695
(-10/ -10) # 1,150
SJC Hanoi6,635/ 6,697
(-10/ -10) # 1,152
SJC Danang6,635/ 6,697
(-10/ -10) # 1,152
SJC Nhatrang6,635/ 6,697
(-10/ -10) # 1,152
SJC Cantho6,635/ 6,697
(-10/ -10) # 1,152
Cập nhật 08-06-2023 09:03:43
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Sản phẩm Vùng 1 Vùng 2
RON 95-V22.79023.240
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Dầu hỏa 2-K17.77018.120
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$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
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EUR24.497,3625.869,06
GBP28.481,0929.695,52
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KRW15,5218,91
Cập nhật lúc 08:57:59 08/06/2023
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