1 Megacap Tech Stock Down 28% You'll Regret Not Buying on the Dip
Earnings season for the quarter that ended Dec. 31, 2022, is now underway, and Microsoft (NASDAQ: MSFT) was the first of the major technology companies to report.
Most Wall Street analysts have been predicting that high inflation and rising interest rates would begin showing up in the corporate sector's financial results at the end of 2022, and they were right. Microsoft's overall revenue growth slowed to a crawl, and its profits dipped compared to the same period in the prior year.
But macroeconomic factors like inflation tend to have a lag effect, and the U.S. Consumer Price Index appears to have peaked in July 2022. That means upcoming quarters could be much more positive for Microsoft. And given the fact that investors have sent the stock down on its latest quarterly result, that might spell opportunity for investors.
Source Fool.com
