Microsoft’s Dour Outlook Raises Red Flags for Tech Sector
Microsoft Corp.’s lackluster quarterly outlook points to more gloom ahead for the tech sector, analysts said, after the tech bellwether warned that its customers were cautious about spending in a turbulent economy.
The warning from Microsoft, the second most valuable U.S. company, came after a steep fall in client spending prompted tech heavyweights from Amazon.com Inc. to Meta Platforms to slash jobs and save cash.
Microsoft, along with Big Tech peers Amazon and Apple Inc., pared losses from earlier on Wednesday to trade nearly 1 percent lower. Alphabet Inc. was down 3 percent. The companies are four of the biggest by market value in the United States….
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