Wall Street Returns to Punish Microsoft a Second Day
Get caught up.
Microsoft Chief Executive Satya Nadella at Davos on Jan. 20. Accompanying the rise of the artificial intelligence tech giants has been a growing fear of a giant bubble.
Photographer: Fabrice Coffrini/AFP
On Wednesday Wall Street gave Microsoft a rap on the knuckles over its surging AI spending and slowing cloud sales growth. On Thursday, investor attention returned to the software giant—and this time they punched it in the face.
Microsoft saw its stock fall by 10% by the end of trading, doubling yesterday’s losses and jettisoning $357 billion in market value in the process. It was a larger move than the market caps of about 96% of S&P 500 Index members, and bigger than the values of stock markets in countries such as Finland, Vietnam and Poland.