Why did UiPath stock slump today? Tech stocks weaken ahead of earnings
Blue Planet Studio/iStock via Getty Images


UiPath (NYSE:PATH) shares fell nearly 7% as tech stocks fell on Monday ahead of several big earnings report this week, including Microsoft (MSFT).
New York-based UiPath (PATH), which makes robotic process automation software, competes with Microsoft (MSFT) in the sector. Microsoft (MSFT) recently said its fourth-quarter results would be impacted by $460M due to foreign exchange headwinds. The company also said it now expects quarterly earnings to between $2.24 and $2.32 per share, compared to a previous outlook of $2.28 and $2.35 per share.

Several other software stocks also fell on Monday, including Salesforce (CRM), Adobe (ADBE) and Intuit (INTU), all of which lost at least 1.5%.
Last week, Morgan Stanley listed UiPath (PATH) as one of the companies likely to benefit from transformational investment due to persistent inflation.