Microsoft stock on track for longest losing streak in a decade, wiping out $350 billion as AI stocks tumble

Core Insights - Microsoft Corp is experiencing its longest losing streak in over a decade due to growing caution in the artificial intelligence sector impacting major technology stocks [1] - The company's stock has dropped 8.6% over the past eight trading days, resulting in a loss of nearly $350 billion in market value [2][9] - Investor sentiment has turned cautious despite better-than-expected growth in Microsoft's Azure cloud computing division, primarily due to concerns over heavy spending on AI infrastructure [3][8] Financial Performance - Microsoft reported $34.9 billion in capital expenditures for the quarter, with indications that spending will increase in the current fiscal quarter [4] Market Trends - The broader market is also affected, with the Nasdaq 100 Index and the Bloomberg Magnificent 7 Total Return Index both declining about 4% this week, marking their largest one-week drop since April [6] - In contrast, Apple Inc shares rose by 0.9%, as the company has adopted a more measured approach to AI investments, becoming a relative safe haven amid the ongoing weakness in the AI sector [7]