These 5 Stocks Are Making Headlines on Tuesday

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1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 259

Shares of Microsoft Corporation (NASDAQ:MSFT) fell nearly three percent in mid-day trading Tuesday after Morgan Stanley lowered its price target for the software maker giant from $372 per share to $354 per share.

Morgan Stanley analyst Keith Weiss cautioned that macroeconomic factors could impact the growth rate of Microsoft Corporation (NASDAQ:MSFT) in the coming quarters. He also referred to declining IT spending and weakening PC demand. Weiss thinks that softness in certain businesses of Microsoft Corporation (NASDAQ:MSFT) could reduce its fiscal 2023 profit by $1 per share.

Separately, Microsoft Corporation (NASDAQ:MSFT) appeared in the first-quarter 2021 investor letter of investment management firm Carillon Tower Advisers. The letter stated:

“Stock selection contributed the most while sector allocation was also positive. An underweight to communication services and an overweight to energy helped performance, while an underweight to consumer staples and an overweight to materials detracted. Stock selection was strong within healthcare and materials but was weak within information technology and industrials. Microsoft (NASDAQ:MSFT) reported positive results driven by personal computing strength, but analysts were especially positive on its growth outlook for its Azure cloud-computing services.”

You can also take a peek at 10 Best Tech Stocks to Buy According to Billionaire Ken Griffin and David Abrams’ 2022 Portfolio: Top 10 Stock Picks.

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