Stocks Analysis by Investing.com (Jesse Cohen) covering: S&P 500, Dow Jones Industrial Average, Microsoft Corporation, SPDR® Dow Jones Industrial Average ETF Trust. Read Investing.com (Jesse Cohen)'s latest article on Investing.com
‘FAAMG’ profit and revenue growth, as well as guidance updates will be the next test for stocks amid a suddenly choppy market.
The Redmond, Washington-based software-and-hardware giant is forecast to post double-digit profit growth as well as a modest increase in revenue growth, reflecting solid demand for its cloud computing products.Consensus estimates call for earnings per share of $2.65, improving 12.8% from a profit of $2.35 in the year-ago period amid the positive impact of reduced operating expenses and ongoing job cuts.
The key unit saw sales growth of 15% in fiscal Q4 to $23.99 billion, while revenue from its Azure cloud services, which Microsoft does not report in dollars, grew 26%, compared with 27% in the preceding quarter.MSFT stock closed at $331.32 last night, within sight of its all-time high of $366.78 reached in July. With a market cap of $2.46 trillion, Microsoft is the world’s second-most valuable company.Microsoft has been on a major uptrend since the start of the year, rising 38.
Revenue is expected to climb 11.3% from the year-ago period to $141.5 billion, reflecting ongoing strength in its cloud computing and advertising businesses. If confirmed, that would be the second-highest quarterly sales total in its history.
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