Microsoft Just Gave Meta Platforms a Big Vote of Confidence
It's been a bad year for tech. Even "safe" stocks with wide moats, lots of cash, and good long-term growth prospects, such as Microsoft (NASDAQ: MSFT), are down a lot. Microsoft is down a whopping 32.5% on the year -- even more than the overall market.
If an AAA-rated company like Microsoft is down that much, you can imagine how other tech stocks have done if things haven't gone perfectly. Case in point: Meta Platforms (NASDAQ: META), which is down a stunning 62% on the year.
With Meta now trading at a bargain-basement valuation, it just got a helping hand from none other than Microsoft itself.
Source Fool.com
