First Salesforce and Now Microsoft Lower Guidance Because of a Strong U.S. Dollar

Microsoft (NASDAQ: MSFT) just joined a growing list of companies revising their growth estimates down for 2022 thanks to a strong U.S. dollar. Just a few days prior, cloud software pioneer Salesforce (NYSE: CRM) issued a similar warning, even as it reports resilient demand for its services as the world continues to go digital.

With the dollar on an absolute tear as of late, don't be surprised to see more businesses follow suit. Despite the headwind, though, business is going just fine.

Image source: Getty Images.

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Source Fool.com