Microsoft is down almost 4% – the biggest drop since June 2016 – filling the gap from earnings as the entire tech space is coming under serious pressure in this low-high tax rotation.
No, there is no MSFT-specific news or catalyst…
FANGs, Semis, and the broad tech sector are in trouble…
As the low-to-high tax company rotation continues…
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Future Market Returns = Dividend Yield + Earnings Growth +/- Change In P/E Ratio
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