Will Microsoft Corporation (MSFT) Bounce Back?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Concentrated Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -0.72% (net), compared to a -3.37% return for the Russell 3000 Growth Index. The energy sector remained relatively strong in the quarter while Real Estate and Consumer Staples especially detracted from performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like Microsoft Corporation (NASDAQ:MSFT) in the Q3 2022 investor letter. Headquartered in Redmond, Washington, Microsoft Corporation (NASDAQ:MSFT) is a multinational technology company. On December 26, 2022, Microsoft Corporation (NASDAQ:MSFT) stock closed at $238.73 per share. One-month return of Microsoft Corporation (NASDAQ:MSFT) was -3.54% and its shares lost 28.67% of their value over the last 52 weeks. Microsoft Corporation (NASDAQ:MSFT) has a market capitalization of $1.78 trillion.

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

Microsoft Corporation (NASDAQ:MSFT) develops, licenses, and supports software solutions worldwide. Fiscal fourth quarter results were generally in line with consensus estimates, though profits missed slightly. While its Azure cloud business continues to perform well, the personal computer market has declined with inflation having an impact. Its shares experienced a -9% selloff.”

Image by Tawanda Razika from Pixabay

Microsoft Corporation (NASDAQ:MSFT) hold first position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 269 hedge fund portfolios held Microsoft Corporation (NASDAQ:MSFT) at the end of the third quarter, which was 258 in the previous quarter.

We discussed Microsoft Corporation (NASDAQ:MSFT) in another article and shared the list of near monopoly stocks in the US. 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.