In a move which seemed to catch Wall Street off guard on Thursday, Microsoft (MSFT) announced downward revisions to its FQ4 (June quarter) guidance. The company said foreign exchange rates were the culprit, given the dollar’s strength against other currencies - namely the British pound, euro, and yen. Russia’s invasion of Ukraine, in tandem with a weakening economy in Europe and Asia, have propelled the US dollar to new highs against other currencies this century. In historically tumultuous times, the US dollar has been considered a safe place to park money. The company reduced its revenue forecast from the range between $52.40 billion to $53.2 billion to between $51.
https://www.tipranks.com/news/article/microsoft-current-fx-headwinds-dont-alter-the-long-term-bull-thesis-say-analyst?utm_source=advfn.com&utm_medium=referral
Microsoft (NASDAQ:MSFT)
Historical Stock Chart
From Jul 2022 to Aug 2022 Click Here for more Microsoft Charts.
Microsoft (NASDAQ:MSFT)
Historical Stock Chart
From Aug 2021 to Aug 2022 Click Here for more Microsoft Charts.