MSFT Cloud Growth Disappoints, Chip Stocks Rally, BOJ Hikes
Microsoft posted an earnings and revenue beat that was overshadowed by disappointing growth in it's Azure cloud business that includes it's ventures into artificial intelligence, adding to fears that return on AI investments are still a long way off. Elsewhere semiconductor stocks are rallying after AMD posted earnings that beat expectations driven by spending on AI chips. And lastly the long-awaited interest rate hike from the Bank of Japan (BOJ) is here, and the Yen is rising sharply against the dollar.
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