Microsoft’s stock drop of 28% so far in 2022 amid growth concerns now looks overdone, Morgan Stanley says. “While investors worry forward numbers have not been de-risked, we see a strong (and durable) demand signal in the commercial businesses, which should lead to improving revenue and EPS growth in 2H23,” Morgan Stanley analyst Keith Weiss wrote in a note on Tuesday. As a result, the valuation of the tech giant is too cheap to ignore, Weiss contended. “Trading at ~20x CY24 GAAP earnings,… Source link
Read More »The Microsoft stock sell-off is overdone, analyst says
Microsoft’s stock drop of 28% so far in 2022 amid growth concerns now looks overdone, Morgan Stanley says. “While investors worry forward numbers have not been de-risked, we see a strong (and durable) demand signal in the commercial businesses, which should lead to improving revenue and EPS growth in 2H23,” Morgan Stanley analyst Keith Weiss wrote in a note on Tuesday. As a result, the valuation of the tech giant is too cheap to ignore, Weiss contended. “Trading at ~20x CY24 GAAP earnings,… Source link
Read More »Bitcoin Briefly Drops Below $48K as Analysts Say Rally Overdone, Yellen Comments
Bitcoin swiftly lost altitude early on Monday, dropping over 15% to below $50,000 before rebounding somewhat. The downward price movement came after bitcoin reached new record highs above $58,300 over the weekend. The drop seemed to accelerate as U.S. Treasury Secretary Janet Yellen, speaking at a New York Times event, described bitcoin as “highly speculative asset” that is extremely inefficient for transactions. Yellen also called the amount of energy consumed in processing those… Source link
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