Down 23%, Should Investors Pounce on Microsoft Today?
Investors have raced for the exits in recent months, and even big tech companies -- which seemed invincible in the past -- have fallen off course. Whether it's 40-year-high inflation and the Fed's choice to raise interest rates in response, or economic impacts from Russia's war against Ukraine, the stock market has been agitated of late.
The Nasdaq Composite has tumbled 29% year to date, and the CBOE Volatility Index, known as Wall Street's fear gauge, is up 80% over the same time frame, highlighting investors' current unease.
Some of the world's most dominant companies have joined the sell-off as well. Shares of software giant Microsoft (NASDAQ: MSFT), have contracted 23% since the start of the year, and the stock could be heading for lower levels in the coming future. Interestingly enough, it doesn't appear that its stock slump has been fundamentally driven -- the technology leader's business continues to forge ahead in great style.
Source Fool.com
