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Motley Fool
Why Microsoft Stock Slumped 5% Today
It’s the second trading day of the new year, and with the Nasdaq Composite index rising more than 1% in early afternoon trading, it looks like things are off to a good start for tech stocks. Microsoft (NASDAQ: MSFT) however, is missing out on the rally. Bright and early Wednesday morning, UBS analyst Karl Keirstead downgraded Microsoft stock from buy to neutral — and cut the bank’s price target on the tech company by 17% for good measure, says StreetInsider.com.
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