Microsoft (NASDAQ:MSFT) was supposed to be the recession-proof company that would perform in an environment in which investors can no longer broadly bet on the market. Just a couple of days ago, I thought it hit a low—and maybe it did. But on Thursday, this struggling stock also revealed something that surprised me: That the company, not just the stock, sees a less than optimal fourth quarter ahead.
The company now expects to report between $51.94 billion and $52.74 billion in revenue for the quarter as compared to a previous fourth-quarter revenue forecast in the range of $52.4 billion to $53.2 billion. Earnings forecasts were also adjusted downward, though minimally.
