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Will Microsoft Corporation (MSFT) Bounce Back?

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Growth & Income Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund delivered negative returns. The market continued its decline in the third quarter and the S&P 500 Index fell -4.9%. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower 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 18, 2022, Microsoft Corporation (NASDAQ:MSFT) stock closed at $241.22 per share. One-month return of Microsoft Corporation (NASDAQ:MSFT) was -2.44% and its shares lost 29.02% of their value over the last 52 weeks. Microsoft Corporation (NASDAQ:MSFT) has a market capitalization of $1.798 trillion.

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

"Despite reporting very good quarterly results, Microsoft Corporation (NASDAQ:MSFT) underperformed the overall market in August. Technology stocks in general underperformed in August due to fears over slowing global economic growth, potentially leading to cuts in corporate information technology budgets."

Taina Sohlman / Shutterstock.com

Microsoft Corporation (NASDAQ:MSFT) holds the top 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 biggest gaming companies in the world. 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.