Shares of Microsoft and Google-parent Alphabet fell sharply Friday as analysts slashed their price targets for both stocks.

At least eight firms slashed their price targets for Alphabet, while at least four did the same for Microsoft's stock. Both companies reported earnings per share and revenues below consensus forecasts Thursday.



RBC Capital Markets analysts lowered their price target on Microsoft to $61 from $63 and lowered fiscal fourth-quarter earnings per share and revenue expectations to 56 cents and $22.1 billion from 64 cents and $22.7 billion.



RBC said in a that weaker on-the spot sales of Microsoft's server products and its Office line, as well as a shift in the way it recognizes revenue on those products, led to them lowering their expectations.