02.06.2020 MIFT Daily Analysis

02.06.2020 MIFT Daily Analysis

As the US economy sets itself on the road to recovery, the current protest is having an adverse effect on that recovery path and currently has little or no effect on stocks yet. Microsoft shares were down by 0.7% to begin the week. Microsoft is set to lay off about 50 journalists and editors at the Microsoft News Business to replace with artificial intelligence. The AI usage will help cut costs at a time when advertising revenue is under pressure due to the pandemic. The company in a statement stated that the layoff was not due to the pandemic Microsoft's latest quarterly report shows that the company as a whole held up well even with the pandemic. Total revenue increased by 15%, earning per share up by 23%, and total cloud revenue increased by 39%. The news business is not a major part of Microsoft and any cost-saving won’t have any influence on the company’s performance.