Will Microsoft Corporation (MSFT) Bounce Back?

Diamond Hill Capital, an investment management company, released its “Large Cap Concentrated Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -3.08% net of fees compared to a -4.61% return for the Russell 1000 Index. Holdings in the energy and technology sectors contributed to the fund’s performance, while investments in the healthcare and financial sectors underperformed in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Diamond Hill highlighted stocks like Microsoft Corporation (NASDAQ:MSFT) in the Q3 2022 investor letter. Microsoft Corporation (NASDAQ:MSFT) is a multinational technology company headquartered in Redmond, Washington. On November 15, 2022, Microsoft Corporation (NASDAQ:MSFT) stock closed at $241.97 per share. One-month return of Microsoft Corporation (NASDAQ:MSFT) was 1.45% and its shares lost 28.73% of their value over the last 52 weeks. Microsoft Corporation (NASDAQ:MSFT) has a market capitalization of $1.804 trillion.

Diamond Hill made the following comment about Microsoft Corporation (NASDAQ:MSFT) in its Q3 2022 investor letter:

“Also among our bottom contributors were media and technology giant Alphabet, software and IT services provider Microsoft Corporation (NASDAQ:MSFT) and insurance company American International Group (AIG). Microsoft shares declined in Q3, along with other tech companies, as rising interest rates impacted the near-term outlook. We expect the business to continue to generate strong revenue growth and benefit from operating leverage. Microsoft’s cloud computing services business, Azure, is generating robust growth, confirming its competitive positioning.”

Microsoft Corporation (NASDAQ:MSFT) holds the top position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 258 hedge fund portfolios held Microsoft Corporation (NASDAQ:MSFT) at the end of the second quarter which was 259 in the previous quarter.

We discussed Microsoft Corporation (NASDAQ:MSFT) in another article and shared the biggest tech companies in the world after the 2022 stock market collapse. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.