Microsoft Corporation trades lower ahead of quarterly report

• Microsoft Corporation is down 1.40% today.
• The consensus is for revenue of $64.4B and earnings per share of $2.94.
• The company has exceeded market expectations in the last five consecutive reports.

Microsoft shares hit a daily high of $428.90, however, the presence of aggressive sellers led the stock to hit a daily low of $418.38. At the time of writing, Microsoft is trading at $421.69, losing 1.20% at the close of the session.

Investors will focus their attention on the company’s revenues

The leading software and artificial intelligence company has beaten market estimates on both revenue and earnings per share in its last five quarterly reports. Microsoft, which is valued at $3.13 T, expects revenue this time of $64.4 B and earnings per share of $2.94.

Although the stock has had a pullback after reaching an all-time high of 468.35 on July 5, the fundamentals indicate a strong and steady growth of the company with growth projections especially in artificial intelligence applications.

Technical levels at Microsoft Corporation

Microsoft shares formed a short-term resistance at 448.39 in convergence with the 78.6% Fibonacci retracement. The first support is located at 389.17, given by the low of May 1. The next support is found at 362.90, pivot point of December 4, 2023.

Microsoft Corporation Daily Chart