It's the second trading day of the new year, and with the Nasdaq Composite index rising more than 1% in early afternoon trading, it looks like things are off to a good start for tech stocks.

For most tech stocks, that is. Microsoft (NASDAQ: MSFT) however, is missing out on the rally. The stock had slumped by 4.8% as of 2:20 p.m. ET, and investors can blame UBS in part for that.

Bright and early Wednesday morning, UBS analyst Karl Keirstead downgraded Microsoft stock from buy to neutral -- and cut the bank's price target on the tech company by 17% for good measure, says StreetInsider.com.  

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Source Fool.com