The investor said he bought the mega-cap tech stock after Friday's jobs report showed lighter wage growth than expected.
Stephen Weiss bought shares of Microsoft , which could be a tactical trade for investors after sentiment around growth stocks improved on some better inflation data. The chief investment officer and managing partner at Short Hills Capital Partners said he bought the mega-cap tech stock after Friday's jobs report showed lighter wage growth than expected — a suggestion the Federal Reserve's attempt to cool the economy is starting to work.
mountain Microsoft so far in 2023 Even so, investors cite a slowdown in cloud revenue at Microsoft, as well as broader concerns that remain for mega-cap tech firms in a period of rising interest rates, as reasons to be wary on the stock. SoFi's Liz Young said she agreed with Microsoft as a trade for short-term investors, though she warned investors against suddenly turning bullish on mega-cap tech stocks.
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