Major Averages Close Lower as Oil Surges Above $90
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 24 2026
0mins
Should l Buy MSFT?
The major averages closed lower following yesterday's gains. The bounce yesterday was driven by headlines suggesting a de-escalation with Iran, but that narrative is already fraying. Oil has turned higher again, climbing back above $90 for the WTI benchmark as optimism fades and the reality of disrupted supply through the Strait of Hormuz reasserts itself.Meanwhile, The Wall Street Journal reported that the Pentagon intends to deploy 3,000 Airborne U.S. soldiers to the Middle East. A written order to deploy the unit is expected later Wednesday, officials told The Journal.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Estee Lauderconfirmed it is inwith Puig BrandsSmithfield Foodsreportedand provided FY26 revenue guidanceNetgearsurged following reports that the FCC hasSumitomo Mitsuiis considering a potential takeover of Jefferies,Ares Managementsaid it isin the Ares Strategic Income fund2. WALL STREET CALLS:UBSJFrogto Buy after 30% AI-driven selloffCoreWeaveat Buy at BofACitiRalph Laurento Buy on post-selloff opportunityJPMorganXencoron a lack of "needle-moving" catalystsUltragenyxto Neutral from Buy at Goldman Sachs3. AROUND THE WEB:OpenAI is set to raise about $10B from venture investors, Bloomberg reportsCulper Research is short Adma Biologics, saying the company's reported growth is "a fiction"Microsoftto rent data center project in Texas dropped by Oracle, Bloomberg saysSouth Korean AI startup Upstage is in talks to acquire 10K AMDMI355 chips, in a bid to "diversify to other chips" as "we have a lot of Nvidiachips," Bloomberg reportsPalantirhas been awarded a three-month contract by the UK's Financial Conduct Authority to analyze sensitive internal data in an effort to combat financial crime, sparking concerns about the U.S. firm's expanding role in the British state, The Guardian says4. MOVERS:Applied Optoelectronicsincreased after receiving afrom a hyperscale customerSM Energygained after Truistcoverage of the stock with a Buy ratingHesaislipped afterand providing guidance for Q1Ocugenfell afterfrom its ArMaDa trial of OCU410Trade Deskwas lower afterthat Omnicomis auditing Trade Desk's fees5. EARNINGS/GUIDANCE:Core & Mainand provided guidance for Q1 and FY26, with CEO Mark Witkowski commenting, "Fiscal 2025 marked our 16th consecutive year of sales growth"Concentrix, with EPS missing consensusAchieve Life Sciences, with EPS in-line with consensusCore LaboratoriesprovidedNeurogene, with EPS higher year-over-yearINDEXES:The Dow fell 84.41, or 0.18%, to 46,124.06, the Nasdaq lost 184.86, or 0.84%, to 21,761.90, and the S&P 500 declined 24.63, or 0.37%, to 6,556.37.
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Analyst Views on MSFT
Wall Street analysts forecast MSFT stock price to rise
34 Analyst Rating
32 Buy
2 Hold
0 Sell
Strong Buy
Current: 420.770
Low
500.00
Averages
631.36
High
678.00
Current: 420.770
Low
500.00
Averages
631.36
High
678.00
About MSFT
Microsoft Corporation is a technology company. The Company develops and supports software, services, devices, and solutions. The Company’s segments include Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment consists of products and services in its portfolio of productivity, communication, and information services. This segment primarily comprises: Office Commercial, Office Consumer, LinkedIn, and Dynamics business solutions. The Intelligent Cloud segment consists of server products and cloud services, including Azure and other cloud services, SQL Server, Windows Server, Visual Studio, System Center, and related Client Access Licenses (CALs), and Nuance and GitHub; and Enterprise Services, including enterprise support services, industry solutions and Nuance professional services. The More Personal Computing segment primarily comprises Windows, Devices, Gaming, and search and news advertising.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Microsoft Stock Rises 10.2% in April Amid Tech Rally
- Stock Performance: Microsoft saw a 10.2% increase in its stock price during April, coinciding with a strong market rally where the S&P 500 and Nasdaq rose by 10.4% and 15.3%, respectively, indicating a robust recovery in tech stocks.
- Earnings Highlights: For the third quarter of fiscal 2026, Microsoft reported adjusted earnings per share of $4.27 on sales of $82.89 billion, surpassing analyst expectations of $4.06 and $81.39 billion, with year-over-year sales growth of 18%, showcasing the company's strong profitability.
- Guidance Concerns: Despite the positive earnings and sales results, Microsoft's forward guidance for the upcoming quarter, projecting sales between $86.7 billion and $87.8 billion, fell short of the average analyst estimate of $87.53 billion, raising investor concerns and leading to a stock price decline post-report.
- Market Dynamics: In May, Microsoft stock has rebounded by approximately 2.1%, although it remains down 14% year-to-date in 2026; however, the company's strong position in the artificial intelligence sector continues to make it a worthwhile long-term investment despite potential competitive disruptions.
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- Customer Support: Azure Marketing VP Jessica Hawk stated that the expansion aims to help customers scale critical workloads while ensuring secure and resilient cloud and AI services, thereby enhancing customer trust and satisfaction.
- Analyst Ratings: According to 63 analyst ratings compiled by CNN, 95% rated Microsoft as a 'Buy', with an average price target of $550, representing a 33.70% upside from the current price of $411.38, reflecting optimistic market expectations for its future performance.
- Strategic Significance: Microsoft's investments extend beyond capacity expansion to include the provision of sovereign infrastructure that complies with local regulations, aiming to support innovation and enhance operational control, further solidifying its leadership position in the global cloud computing market.
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- Strategic Portfolio: Last year, Nvidia invested $17.5 billion in private companies and infrastructure funds, primarily to support early-stage startups, further deepening and broadening its ecosystem reach.
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- Massive Investment Trends: U.S. tech companies are projected to spend up to $1 trillion annually on AI by 2027, with global data center spending expected to reach $7 trillion by 2030, illustrating a significant influx of capital despite public opposition.
- Home Data Center Model: PulteGroup is collaborating with Nvidia and startup Span to test the installation of small data center nodes on new homes' exterior walls, although the scalability and regulatory approval of this model remain uncertain, its potential for energy efficiency and cost savings is noteworthy.
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- Significant Investment Returns: Nvidia's $5 billion investment in Intel last year has now appreciated to over $25 billion, reflecting the success of its investment strategy and further solidifying its leadership position in the AI market.
- Ecosystem Expansion: In 2026, Nvidia has already committed over $40 billion in investments across various public equities, indicating its dedication to building a comprehensive AI supply chain that ensures widespread application of its hardware and meets market demand.
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- Nvidia's Significant Upside: Although Nvidia's stock is only down 2% from its all-time high, it is expected to reach a forward P/E ratio in the mid-30s, indicating a potential 40% upside, especially as major client Alphabet plans to significantly increase capital expenditures in 2027, suggesting strong future demand.
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See More
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- Stock Performance: Microsoft saw a 10.2% increase in its stock price during April, coinciding with a strong market rally where the S&P 500 and Nasdaq rose by 10.4% and 15.3%, respectively, indicating a robust recovery in tech stocks.
- Earnings Highlights: For the third quarter of fiscal 2026, Microsoft reported adjusted earnings per share of $4.27 on sales of $82.89 billion, surpassing analyst expectations of $4.06 and $81.39 billion, with year-over-year sales growth of 18%, showcasing the company's strong profitability.
- Guidance Concerns: Despite the positive earnings and sales results, Microsoft's forward guidance for the upcoming quarter, projecting sales between $86.7 billion and $87.8 billion, fell short of the average analyst estimate of $87.53 billion, raising investor concerns and leading to a stock price decline post-report.
- Market Dynamics: In May, Microsoft stock has rebounded by approximately 2.1%, although it remains down 14% year-to-date in 2026; however, the company's strong position in the artificial intelligence sector continues to make it a worthwhile long-term investment despite potential competitive disruptions.
See More
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- Investment Expansion: Microsoft announced significant investments in new data center regions across Austria, Belgium, Greece, Finland, and Denmark to address the growing demand for cloud and AI services, demonstrating the company's responsiveness to market needs.
- Customer Support: Azure Marketing VP Jessica Hawk stated that the expansion aims to help customers scale critical workloads while ensuring secure and resilient cloud and AI services, thereby enhancing customer trust and satisfaction.
- Analyst Ratings: According to 63 analyst ratings compiled by CNN, 95% rated Microsoft as a 'Buy', with an average price target of $550, representing a 33.70% upside from the current price of $411.38, reflecting optimistic market expectations for its future performance.
- Strategic Significance: Microsoft's investments extend beyond capacity expansion to include the provision of sovereign infrastructure that complies with local regulations, aiming to support innovation and enhance operational control, further solidifying its leadership position in the global cloud computing market.
See More
Nvidia Accelerates AI Investment Strategy
- Surge in Investment: Nvidia has committed over $40 billion in 2026 alone, including a $2.1 billion investment agreement with data center operator IREN, showcasing its aggressive expansion in the AI infrastructure sector.
- Market Dominance: With a market cap of approximately $5.2 trillion and an 11-fold stock price increase over four years, Nvidia has solidified its position as the most valuable company globally, reflecting its undeniable leadership in the AI chip market.
- Strategic Portfolio: Last year, Nvidia invested $17.5 billion in private companies and infrastructure funds, primarily to support early-stage startups, further deepening and broadening its ecosystem reach.
- Strengthened Partnerships: The $3.2 billion investment in Corning will drive innovation in optical technologies, with plans to build three new facilities, enhancing its capabilities in handling AI workloads.
See More
The Rise and Challenges of Home Data Centers
- Legislative Developments: Maine's legislature passed a data center ban, though it failed to override the governor's veto, indicating rising public discontent with data centers, as 14 states consider similar legislation reflecting concerns over big tech's influence.
- Massive Investment Trends: U.S. tech companies are projected to spend up to $1 trillion annually on AI by 2027, with global data center spending expected to reach $7 trillion by 2030, illustrating a significant influx of capital despite public opposition.
- Home Data Center Model: PulteGroup is collaborating with Nvidia and startup Span to test the installation of small data center nodes on new homes' exterior walls, although the scalability and regulatory approval of this model remain uncertain, its potential for energy efficiency and cost savings is noteworthy.
- Technical and Security Challenges: Home data centers face significant technical limitations regarding power density, connectivity, and security, as they may work for specific workloads, but high-density AI training and real-time tasks present major challenges, with experts highlighting concerns over reliability and security in residential settings.
See More
Nvidia Accelerates Investment in AI Infrastructure
- Massive Investment Plans: Nvidia announced this week plans to invest up to $3.2 billion in glass maker Corning and $2.1 billion in data center operator IREN, demonstrating its aggressive strategy to enhance its competitive edge in the AI infrastructure sector through acquisitions and commercial partnerships.
- Significant Investment Returns: Nvidia's $5 billion investment in Intel last year has now appreciated to over $25 billion, reflecting the success of its investment strategy and further solidifying its leadership position in the AI market.
- Ecosystem Expansion: In 2026, Nvidia has already committed over $40 billion in investments across various public equities, indicating its dedication to building a comprehensive AI supply chain that ensures widespread application of its hardware and meets market demand.
- Positive Market Reaction: Following Nvidia's investment agreements with IREN and Corning, shares of both companies surged, showcasing market confidence in Nvidia's investment strategy and further propelling its market capitalization to approximately $5.2 trillion.
See More
AI Stocks Rebound: Three Solid Investment Opportunities
- Microsoft's Strong Earnings: In Q3 of fiscal 2026, Microsoft's revenue rose 18% year-over-year to $82.9 billion, with net income increasing by 23%, showcasing robust performance in cloud computing, particularly with Azure's 40% revenue growth, instilling confidence in investors that the stock will rebound.
- Nvidia's Significant Upside: Although Nvidia's stock is only down 2% from its all-time high, it is expected to reach a forward P/E ratio in the mid-30s, indicating a potential 40% upside, especially as major client Alphabet plans to significantly increase capital expenditures in 2027, suggesting strong future demand.
- Meta's Impressive Growth: Meta's revenue surged 33% year-over-year in Q1, leveraging AI for effective ad placements despite its social media dominance, with a current P/E ratio of just over 19, below the S&P 500's 21.7, presenting a compelling investment opportunity.
- Long-Term Investment Outlook: All three companies are poised for strong returns through 2026, particularly as multi-year AI-related growth remains on the horizon, making them excellent long-term stock picks.
See More
