Â Microsoft’s stock price on the New York Stock Exchange (NYSE) has dropped 11% after reporting around a decreased earnings projection of about 11-16 cents less (can’t remember the exact numbers). This decreased projection is due to an extra 2 Billion dollars of spending on expenses to compete with companies like Google, and it will eat into the company’s profits.
Â The stock price is currently $24.28. Also, the CIBC has downgraded Microsoft to “sector underperformer”. . . the CIBC also stated Microsoft “is spending like it’s 1999”.
Check out the stock price here: