Lates News

With investors continuing to worry about Microsoft's prospects in the era of artificial intelligence, the stock price of this software giant is heading towards its worst month since the dot-com bubble. The stock has already dropped 17% in June and is on track to have its worst single-month performance since December 2000. This sell-off has caused the company's market value to evaporate by over $57 billion, and the stock had fallen to its lowest closing price since 2023 before bouncing back on Friday. Jack Ablin, Chief Investment Strategist at Cresset Wealth Advisors, who holds the stock, said, "Microsoft is facing dual pressures, both concern over spending on artificial intelligence (AI) and worries about the disruptive impact of AI. Despite seeming like a good investment from a valuation perspective, I feel that investors are currently following a 'sell first, ask questions later' approach."