Microsoft Stock Declines Despite Strong Quarterly Earnings Report

Microsoft shares fell nearly 3% in extended trading after the tech giant reported better-than-expected quarterly results but missed Wall Street`s revenue estimate for its cloud segment. The earnings-driven drop comes after Microsoft shares fell nearly 10% from their record close on July 5. Shares had fallen below the 50-day MA leading into the company`s quarterly report, with volume increasing over the past week. Microsoft shares may encounter support at key chart levels including $410,$385, $367, and$340. Since bottoming out in November 2022, Microsoft shares have trended steadily higher, with momentum accelerating following the 50-day moving average crossing the 200-day MA in March last year.