The selloff in tech stocks has led to a pullback in Microsoft (NASDAQ:MSFT), which is down about 10.4% this year. Meanwhile, Microsoft recently delivered better-than-expected Q2 financials. However, it failed to give a significant boost to its stock price due to the sequential deceleration in the growth of Azure and other cloud service revenues.  Now What?  The growth of Microsoft Azure and other cloud services revenue has decelerated on a sequential basis over the past two consecutive quarters.  Nevertheless, Microsoft expects Azure’s growth to accelerate on a constant currency basis in the coming quarter.
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