Home
News
- Microsoft has dropped Twitter from its advertising platform. Elon Musk is threatening a lawsuit against Microsoft
- Technical indicators of MSFT favor a consolidated trend in price. It is trading with a drop of 0.5% in the intraday session
Microsoft is a behemoth in the technology sector with headquarters in Redmond. It was founded in April 1975 by Bill Gates and Paul Allen. The company has gained much popularity and become the biggest technology company. As per Statista Microsoft holds over 74% of the market share of operating systems for PC. Microsoft has been an active player in the field of AI and has invested a lot in companies like OpenAI. They have secretly been developing their own AI chips. As per the report by The Information, they are looking to tackle the rising cost of development for in-house projects by developing their own chips. Microsoft has recently said that it will no longer support Twitter as its advertising platform. Musk has responded by saying MSFT has been using Twitter data illegally and has threatened a lawsuit. Meanwhile, Microsoft has announced a cash dividend of 0.68 with an ex-date of May 17, 2023.
Microsoft has a market cap of $2.12 Trillion and will grow more in the future. It has an EPS of 9 with a PE of 31.64 as per Yahoo Finance. It is very close to breaching its 1-year target and may move beyond $350.
When Will MSFT Consolidation End?
The weekly technical chart of Microsoft hints at a struggle between the bulls and bears. They are ready to report their earnings but may see a decline in cloud revenue. It is trading near $284 with a drop of 0.54% in the intraday session. The upside trend of MSFT price may see a halt near $290. Meanwhile, on the downside momentum, the asset price can see a bounceback from $280. It is trading above the 50 and 100 Daily Moving Averages. There can be a positive crossover in the future which can push the price beyond $300.
The RSI of Microsoft’s stock price is near 55 suggesting its presence in the neutral zone. There is a strong downside slope which hints toward a bearish trend in price.
Conclusion
Microsoft has removed Twitter from its advertising platform and Musk has threatened to sue them. MSFT is currently moving in a consolidated trend and can move to a new high in the future.
Technical Levels
Major Support:$280
Major Resistance:$290
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
