Why Microsoft Stock Is Sinking Today
(NASDAQ: MSFT) stock is in the red in Tuesday's trading, but it has regained some ground after initial sell-offs. As of 2:30 p.m. ET, the company's share price was down 2% after having been down as much as 3.2%. The S 500 had moved 0.6% lower in the daily session at the same point, and the Nasdaq Composite had fallen 1.7%.
Despite the significant valuation pullback, there was some good news for Microsoft today -- with the company announcing it had expanded its relationship with consulting firm KPMG. Even so, fears about macroeconomic factors and the potential impact of SpaceX's upcoming initial public offering (IPO).
Image source: Getty Images.
Source Fool.com
Microsoft Corp. Stock
€403.10
3.030%
The stock is one of the favorites of our community with 163 Buy predictions and 4 Sell predictions.
With a target price of 506 € there is a positive potential of 25.53% for Microsoft Corp. compared to the current price of 403.1 €.
