Uncertainty regarding the length and duration of the downturn have hung over the market like an anvil this year, with many investors afraid to buy the dip for fear of suffering further declines. Add to that the Federal Reserve Bank's relentless campaign of rising interest rates to combat persistent inflation, and it's no wonder that consumers and investors alike have shifted their behavior based on the tough macroeconomic conditions. Netflix (NASDAQ: NFLX) surged 9.2%, Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) jumped 5.4%, honorary member Microsoft (NASDAQ: MSFT) climbed 5.8%, while Apple (NASDAQ: AAPL) and Amazon (NASDAQ: AMZN) each rallied 4.5% by the time the market closed on Wednesday.
Amazon's (AMZN) AWS announces a new data management service namely Amazon DataZone.
With a market cap of $1.8 trillion, Microsoft (NASDAQ: MSFT) is the third-largest public company in the world. During the mid-2020 to late-2021 bull run, many would argue that Microsoft was overvalued, but at its current price range, it's looking much more appealing. In its 2022 fiscal year, Microsoft brought in $198.3 billion in revenue (up 18% year over year), but what sticks out more than the number itself is how many different ways the company makes its money.