Microsoft - Time to Buy the Dip?

Still the undefeated software giant MSFT , top 3 company of the world has corrected for 25%, nearly as much as we have seen in March 2020.

Is it time to buy?

Fundamental indicators:

• Revenue and Profits - consistent strong growth for the past 10 years
  
• Profit margin - impressive 35% in 2021
  
• P/E - although still above the norms with 27x ratio it can be considered by many very much acceptable for this highly effective company
  
• Liabilities - no problems with debt
  

Technical Analysis (Elliott Waves):

• The rapid drop in March 2020 has completed correction that has been observed for nearly year and a half and formed by a Running Flat
  
• Since then Microsoft has enjoyed an explosive growth with over 150% increase in an impulse movement
  
• And having peaked at $350 there is another correction developing now
  
• Given the rank of this highly sought after stock it is possible to assume that this correction is going to be similar to the previous one and the depth is not going to exceed 0.382 Fibonacci retracement of wave 3, i.e. not lower than $230, and it will also be shaped as a Running Flat
  
• Duration of this running correction is likely to be longer than the previous one lasting at least till end of 2023 followed by another rocket-like movement to the moon
  

What do you think about the prospects for MSFT ?

Please share your thoughts in the comments and like this idea if you would like to see more stocks analysed using Elliott Waves.

Thanks