First American News LLC-Raleigh, NC: Shares of technology stocks rallied Wednesday, after strong results from both Microsoft Corp. and Texas Instruments Inc. underlined the sector’s growth outlook, helping to ease investor concerns ahead of a highly-anticipated Federal Reserve meeting.
- Microsoft’s results and outlook lift software stocks
- Tech shares have been under pressure amid rate concerns
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Microsoft gained as much as 6.9%, the most since April 2020, after it gave a forecast for its cloud-computing business that analysts see as strong. Wall Street firms also welcomed the outlook given by Texas Instruments, which lifted shares as much as 5.3%. The reports were among the earnings season’s first high-profile reads into the software and semiconductor sectors, respectively, and they spurred broad rallies into the beaten-down groups. Click Here To Continue Reading at the New York Times.