Microsoft stock plunges 10% as earnings drive $357 billion market cap wipeout

Microsoft stock plummeted almost 10% on Thursday, a steep drop the day after the tech giant reported earnings that saw the company shed a whopping $357 billion from its market capitalization. Shares fell 9.99% on the day. It was the stock's worst day since 2020, CNBC reports. Shares were only up slightly in after-hours trading late Thursday. In its earnings release on Wednesday, Microsoft reported doing exactly what Big Tech keeps promising it can do: spend like the future has a delivery deadline and st ...