Investment

Here’s Why You Should Keep an Eye on Your Microsoft (MSFT) Investment

Published

11 months ago

December 9, 2023

Claret Asset Management, an investment management firm, released its third quarter 2023 investor letter, a copy of which can be downloaded here. As indicated by the fund, following the second-best first half of the century, the market bulls faced challenges in the third quarter of 2023. The S&P 500 recorded a loss of 3.27% in the three months ending September 30th, 2023. Analysts attribute this downturn to the surge in interest rates stemming from the Federal Reserve’s measures to control inflation. The Canadian market fared slightly better, experiencing a loss of only 2.7% during the quarter. Take a moment to review the fund’s top 5 holdings to gain insights into their primary investment choices for 2023.

In its Q3 2023 investor letter, Claret Asset Management mentioned Microsoft Corporation (NASDAQ:MSFT) and explained its insights for the company. Microsoft Corporation (NASDAQ:MSFT) is a Redmond, Washington-based multinational technology corporation with a $2.7 trillion market capitalization. Microsoft Corporation (NASDAQ:MSFT) delivered a 55.33% return since the beginning of the year, while its 12-month returns are up by 51.97%. The stock closed at $372.52 per share on December 05, 2023.

Here is what Claret Asset Management has to say about Microsoft Corporation (NASDAQ:MSFT) in its Q3 2023 investor letter:

“We have mentioned in the last letter that the “magnificent seven”, including Microsoft Corporation, dominated the performance of the S&P 500. We might have left you with the feeling that we are bearish because we don’t find the Magnificent 7 attractive. Let us make it clear: we are just not so pessimistic as to believe there are only 7 growth opportunities in the entire global equity market. In fact, we are optimists and think opportunity is abundant. Just not in everyone’s current 7 favorite stocks.”

Image by Tawanda Razika from Pixabay

Our calculations show that Microsoft Corporation (NASDAQ:MSFT) ranks 1st on our list of the 30 Most Popular Stocks Among Hedge Funds. We also mentioned Microsoft Corporation (NASDAQ:MSFT) in another article. Microsoft Corporation (NASDAQ:MSFT) was in 306 hedge fund portfolios at the end of the second quarter of 2023, compared to 300 funds in the previous quarter. Microsoft Corporation (NASDAQ:MSFT) delivered a 11.68% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q3 2023 page.

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Investment

S&P/TSX composite up more than 100 points, U.S. stock markets mixed

Published

3 weeks ago

October 16, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Economy

S&P/TSX up more than 200 points, U.S. markets also higher

Published

4 weeks ago

October 11, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Economy

S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

Published

4 weeks ago

October 10, 2024

Anne Joseph

TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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