Microsoft's 365 services experienced an outage late Monday
Microsoft Corporation (NASDAQ:MSFT) is nearly flat this morning, down 0.1% at $209.36, after its Microsoft 365 services experienced a major outage, likely caused by an update to its servers. The tech giant did not disclose how many people were impacted by the outage, though data from Downdetector.com reported that during the height of the outage, over 8,000 people reported issues late Monday. The issue has since been resolved.
MSFT is no stranger to the recent selloff rocking Tech. The stock plummeted below the formerly supportive 30-day moving average earlier in the month, and a recent run-up to this area was rejected by the trendline. There's still some support in place, though, with the 120-day moving average capturing most of the stock's losses. For the year, MSFT is still up 32.7%.
Microsoft remains an analyst darling, too. Of the 23 in coverage, 21 say "buy" or better, compared to just two "hold" ratings. Plus, the 12-month consensus price target of $229.83 is a solid 9.8% premium to current levels.
Options players have taken a much more bearish stance of late. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), MSFT sports a 10-day put/call volume ratio of 0.72, which stands higher than 98% of readings from the past year. This suggests that while calls are still outpacing puts overall, the latter have rarely been more popular.