Microsoft suffers due to high USD

Source: Dukascopy Bank SA


At the start of Thursday's US trading hours, Microsoft stock plummeted 3.88% or 10.55 USD, as the company lowered its 2022 profit forecast.

In general, the company revealed that it is suffering majorly due to the high value of the US Dollar. Namely, its services export unit is charging outside the US its clients in other currencies, which are afterwards exchange for USD. Due to that reason, the company's profits in USD are less.

The decline of the large market capitalization stock caused a broader market sell off. Moreover, the news are signaling that all major US companies are experiencing the same issue.
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