Microsoft extends six-day losing streak after dropping $1.24
- Daily trading volume (33.70 million shares) was higher than the current multiday average of 20.43 million.
- Continuing its a 6 day bearish run (-$17.93), Microsoft showed losses yesterday.
- Microsoft discloses 68 cents per share dividend to be paid on Thursday, September 14th
The software giant has fallen back around 10.77% over the past 2 months, from a notable high of $359.49.
The Nasdaq has been doing worse in 2023, passing it by 11.41%.
The company's market cap currently stands at $2.37 trillion
daily trading volume (33.70 million shares) was higher than the current multiday average of 20.43 million.
Microsoft has a forecast of $55.47 billion with an EPS of $2.55.
In comparison to previous reports, some of Microsoft's overall fundamentals remain strong while others do not, yet they are slightly above the competition average.
When analyzing Microsoft's indicators, the one that pops out as most significant is the company's free cash flow (FCF). It has a solid 17.83 billion, which is above the competition and better than its trailing twelve-month average of 4.89 billion. FCF is the cash a company has available to use. FCF is different from net income in that it includes the expenses of capital goods and changes in working capital. Debt-to-equity ratio with a value of 0.31, appears to be the most notable. This is higher than industry standard and shows an improvement over the preceding value of 0.99.
Fundamental analysis shows that Microsoft is retaining its 'Buy' rating as of now.
The MACD is significantly below its signal line which suggests that the existing bearish sentiment is beginning to swing around toward a more bullish outlook. Bollinger Bands® shows an indication of recovery: the lower band is at $318.11, a low enough level to, generally, suggest that Microsoft is trading below its fair value. Microsoft could begin to recover as it approaches significant support, now $4.96 away from $314.57. Dipping below could be an indication that further losses are ahead.
Technical analysis indicates that Microsoft's current downtrend might soon change course and start climbing up in the short term.
Microsoft disclosed a quarterly dividend of 68 cents per share on Tuesday, June 13th that was paid on Thursday, September 14th to all shareholders of record up until Thursday, August 17th. Based on current prices, the company's decision thereby provides Microsoft investors with an annual dividend yield of 0.851%. Microsoft was not the only decliner in the technology sector; Cisco Systems lost 3.89% yesterday and closed at $53.34. Adobe lost 4.09% yesterday and closed at $513.88. Intuit drops 3.67% yesterday to close at $523.59.
REGION: United States ASSET: Microsoft (MSFT) PREV. OPEN: $319.26 PREV. CLOSE: $319.53 PRE-MARKET: $319.3 TIME TO OPEN: 7 hours