Analysts at Goldman Sachs have released an update on Microsoft Corp. (NASDAQ:

). On Wednesday, Microsoft shares saw a sharp decline, closing 4.1% lower. Analysts say that much of the selling can be attributed to comments made by Steve Ballmer, Microsoft’s CEO, on Tuesday night in Asia, where he acknowledged general concerns over European contagion. According to analysts, although European contagion is a concern, the comments made by Ballmer were not Microsoft specific. Also, the shares underperformed large-cap tech despite having relatively low exposure outside of the U.S. and the backstop of several product cycles. Analysts at Goldman Sachs have maintained their Buy rating for Microsoft Corp.