MICROSOFT CORP. TECHNICAL ANALYSIS – 27 OCTOBER

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MICROSOFT FALLS AFTER A ‘SIGNIFICANT’ GUIDANCE MISS

Shares of Microsoft (NASDAQ:MSFT) are trading nearly 6% down in early Wednesday trading after the tech titan offered soft guidance for its fiscal second quarter while also lowering the 2023 revenue outlook.

Microsoft reported an EPS of $2.35 to top the analyst estimate of $2.32. Revenue jumped 11% YoY to $50.1 billion, again higher than the consensus of $49.86 billion. This marks the weakest quarterly sales growth in five years for Microsoft.

Microsoft Azure grew 35% to generate $20.33 billion in sales, while analysts were looking for a 36% growth rate. Microsoft’s Productivity and Business Processes and Personal Computing units topped analyst views.

“In a world facing increasing headwinds, digital technology is the ultimate tailwind. In this environment, we’re focused on helping our customers do more with less, while investing in secular growth areas and managing our cost structure in a disciplined way,” said Satya Nadella, chairman and CEO of Microsoft.

On the earnings call, Microsoft guided to $52.85 billion (at the midpoint) in FQ2 revenues, suggesting a 2% YoY growth. Analysts were looking for revenue of $56.05 billion. Azure growth should slow down to 37% in constant currency, again lower than the 39.4% consensus.

Goldman Sachs analysts lowered FY23 estimates to reflect results and guidance. The new price target on MSFT shares is $315, down from $330 a share.

MICROSOFT CORP. TECHNICAL ANALYSIS: DAILY CHART

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