Microsoft Shares Plunge 10%, Wiping Out Nearly $360 Billion in Market Value

Key Takeaways Microsoft shares slumped Thursday, despite quarterly revenue and earnings that topped estimates. Analysts said the tech giant's growing AI spending, weaker-than-expected cloud growth, and reliance on a few large customers raised concerns. Microsoft (MSFT) shares took a big hit after the company reported earnings yesterday. The shares dropped 10% Thursday to close at $433.50, leading losses on the Dow Jones Industrial Average and the Nasdaq. Thursday's rout wiped nearly $360 billion of ...