Microsoft's stock fell 2.52%, ending a 47.29% rally since April. The company announced strong Q2 earnings with EPS of $3.65 and revenue of $76.44 billion, resulting in a 28.25% increase this year. Multiple price target upgrades were issued, with Citi raising to $613 and Piper Sandler to $600. Microsoft is investing $400 million in AI and cloud services in Switzerland, supporting over 50,000 customers. Despite a $800 million charge from an unsuccessful investment, optimism remains around AI and cloud resiliency, although Microsoft cut 6,000 jobs to maintain cost discipline amid economic uncertainty.
Shares of Microsoft (NASDAQ:MSFT) lost 2.52% over the past five trading sessions, briefly pausing a rally that's seen the stock gain 47.29% since its year-to-date low on April 8.
The Magnificent Seven mainstay reported EPS of $3.65 versus analysts' expectations of $3.35, while quarterly revenue came in at $76.44 billion.
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