TechFlow reports, June 29, as investors continue to worry about Microsoft (MSFT.O)'s prospects in the age of artificial intelligence, the software giant's stock price is heading for its worst month since the dot-com bubble era. The stock has fallen 17% in June, and at this pace, it will mark the worst single-month performance since December 2000. This sell-off has caused the company's market value to evaporate by more than $570 billion; before rebounding on Friday, the stock price fell to its lowest closing price since 2023 on Thursday.
Jack Ablin, Chief Investment Strategist at Cresset Wealth Advisors, which holds the stock, said: "Microsoft is facing dual pressure, with concerns over both spending on artificial intelligence (AI) and the disruptive impact of AI. Although from a low valuation perspective this seems like a good investment, I feel investors' current approach is 'sell first, question later'." (Jin10)
