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ABB: share price falls after Microsoft postpones contract
(CercleFinance.com) - On Monday, ABB suffered the biggest drop on the Zurich Stock Exchange's SMI index, following reports of the postponement of a contract with Microsoft to power data centers.
According to analysts at RBC, the Swiss engineering group's CEO, Moren Wierod, spoke on a conference call with the financial community about Microsoft's decision to 'pause' an investment in the 'datacenter' field. Microsoft will continue with its AI projects, but the CEO says the group has postponed an order by 30 to 40 days", the Canadian broker points out, noting that the American software giant has not substantiated the reasons for the delay. Despite the unfavorable news regarding Microsoft's plans, Moren Wierod said, according to RBC, that data center investment activity remained broadly unchanged. With a decline of 3.7%, ABB shares were the worst performers on the SMI index. Copyright (c) 2025 CercleFinance.com. All rights reserved. |
23/05/2025 17:40
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