We're selling shares of this Big Tech stock on the back of last week's rally

Published Mon, Nov 14 20229:22 AM ESTUpdated Mon, Nov 14 20229:39 AM EST

We are selling 50 shares of Microsoft (MSFT) at roughly $243.90 a share. Following Monday's trade, Jim Cramer's Charitable Trust will own 325 shares of Microsoft, decreasing its weighting in the portfolio to 2.79% from 3.2%. This trim is consistent with our position on Thursday's powerful rally in the Nasdaq composite . Tech stocks soared in response to cooler-than-expected inflation data , which provided hope that the Federal Reserve could slow the pace of interest rate hikes next month. Microsoft's stock closed up more than 11% last week. We downgraded Microsoft into Thursday's strength and said we would make a small sale if we weren't restricted. Although tech stocks tend to see their valuations (price-to-earnings multiples) expand when interest rates fall, we remain guarded around tech companies that may struggle to deliver on earnings due to macroeconomic pressures. To that end, Microsoft's shares, which are down more than 26% year-to-date, edged lower Monday morning in premarket trading, likely in response to a cautious research note by analysts at UBS. The analysts said they believe management's quarterly outlook for the company's Azure cloud business is at risk, partly due to mounting pressure from slower new workload migration activity and optimization efforts. UBS also lowered its estimates for Office 365 on the belief that the installed base could come under pressure due to macro weakness and headcount cuts. With our trading restrictions cleared Monday morning, we are making the trim, as promised, and locking in a huge gain of about 200% on stock purchased in December 2017. (Jim Cramer's Charitable Trust is long MSFT. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

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