Microsoft’s May Stock Performance
Microsoft (NASDAQ: MSFT) recorded a notable 10.4% increase in its stock price during May, significantly outperforming the S&P 500 and Nasdaq Composite, which gained 5.2% and 8.4%, respectively. This surge followed a robust quarterly earnings report released in late April, which revealed non-GAAP earnings per share of $4.27 on revenues of $82.89 billion, surpassing analyst expectations. Despite this, the stock is down approximately 14% year-to-date and has faced challenges in early June, dropping around 7.5% amidst a broader market sell-off.
The latest employment report from the Bureau of Labor Statistics indicated stronger-than-expected job growth, raising concerns among investors about potential Federal Reserve interest rate hikes, which could impact growth stocks like Microsoft adversely. As of early June, the S&P 500 and Nasdaq Composite have also seen declines of 2.6% and 4.7% respectively.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
