Stock News - Microsoft Corp Forecast And Technical Report - 13 October 2022
MICROSOFT ESTIMATES LOWERED ON ‘STEEPEST PC DECLINE IN TWO DECADES’ Credit Suisse lowered its estimates for Microsoft (NASDAQ:MSFT) on Wednesday, stating that high inventory levels and economic uncertainty are resulting in the “steepest PC decline in two decades.” “IDC and Gartner released PC shipment data for Q3 2022 showing a historic slowdown in the PC market. Gartner (sell-through) and IDC (sell-in) reported shipment declines of 19.5% and 15.0% year-over-year for Q3, respectively, versus declines of 12.6% and 15.3% year-over-year in Q2 and compared to increases of 1.0% and 3.9% in Q3 2021,” wrote Credit Suisse analysts. “In comparison, Microsoft’s management provided guidance for Windows OEM revenue for the September quarter to decline in the high single-digits. Consensus estimates for Windows OEM revenue growth currently forecast an 8.0% y/y decline.” The analysts wrote that the September quarter estimates represent the steepest market decline since Gartner began tracking th...