The firm said the latest round of field checks into the business lowered its confidence in the stock.
There's some weakness ahead for Microsoft , UBS said. Analyst Karl Keirstead downgraded the tech giant to neutral from buy, saying the latest round of field checks into the business lowered the bank's confidence in the stock.
Meanwhile, Office 365 — which has been a "remarkably steady machine of late" for Microsoft — could slow revenue growth in 2023, as the seat-based business could be hurt by growing pressure in the labor market, according to the analyst. Shares of Microsoft were down roughly 29% in 2022, snapping a 10-year winning streak.
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