Apple, other tech stocks drop on Microsoft’s bleak outlook

Apple and other tech stock futures fell more than 1% on Wednesday as Microsoft led the decline in tech stocks after it forecast cloud earnings lower than Wall Street estimates for the quarter.


Microsoft Corp shares fell 2.1% in pre-market trading after warning that growth in its cloud business, which helped meet analyst expectations in the second quarter, could stall.

MacDailyNews takes: Apple is certainly not Microsoft: Apple’s indomitable Macs continue to gain market share at the expense of x86-based vendors – Jan 19, 2023

Other big growth stocks, including Inc, Tesla Inc, Apple Inc, and Alphabet Inc, also fell between 1% and 2%.

Sophie Lund-Yates, Lead Equity Analyst at Hargreaves Lansdowne, wrote in a client note:

“Despite rising interest rates slowing and renewed hope that inflation may peak, buying a new laptop and the software that comes with it is not currently a priority for many people. is not.”

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We’ve been covering Apple on these pages for over 20 years, and we’ve seen them weather multiple downturns.

While consumer spending is declining, it’s non-Apple technology companies that are most at risk. And during periods of stock price decline, Apple’s massive share repurchase program is even more effective at canceling shares and helping shareholders. – MacDailyNews, October 4, 2022

Apple’s consumer demographics suggest resilience even in the midst of inflation. Additionally, the profit margins are very high, giving the company plenty of flexibility to absorb price increases should the need arise. – MacDailyNews, November 11, 2022

The major technology company most resistant to inflation and recession is Apple thanks to its excellent customer base. – MacDailyNews, October 27, 2022

Apple iPhone customers are the most recession-proof smartphone buyers. — MacDailyNews, September 7, 2022

The same is true for Mac, iPad, Apple Watch, and Apple Services customers (personal computers, tablet computers, smartwatches, and subscriptions), respectively. – MacDailyNews, October 13, 2022

When your money becomes a bigger concern, you’ll want to spend it wisely…if it’s not an iPhone, it’s not an iPhone. Plus, if it’s not an iPhone Pro, it’s not an iPhone Pro. – MacDailyNews, October 27, 2022

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