Svmuu News: As investors continue to worry about Microsoft (MSFT.O)'s prospects in the age of artificial intelligence, the software giant's stock is on track for its worst monthly performance since the dot-com bubble era.The stock has fallen 17% in June and, if this trend continues, will post its worst monthly performance since December 2000.The sell-off has wiped more than $570 billion off the company’s market capitalization; before rebounding on Friday, the stock had fallen to its lowest closing price of 2023 on Thursday.
Jack Ablin, chief investment strategist at Cresset Wealth Advisors, which holds the stock, said, “Microsoft is facing dual pressures: concerns over spending on artificial intelligence (AI) and fears of the disruptive impact of AI. Although it seems like a good investment given its low valuation, I feel that investors are currently adopting a ‘sell first, ask questions later’ approach.” (Jin Shi)