Microsoft shares are sliding in the pre-market after its cut top and bottom-line guidance due to a strong dollar:
On June 2, 2022, Microsoft Corporation updated our guidance for the quarter ending June 30, 2022 due to unfavorable foreign exchange rate movement in the quarter through May. A slide deck with our revised guidance is furnished as Exhibit 99.1 to this report.
The new guidance is as follows:
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This dragged MSFT lower...
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And the majors are all sliding hard with Nasdaq and S&P back in the red...
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Having recently frozen new hiring, is MSFT a canary?
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