Microsoft rallies in last 10 minutes of trading to avoid first eight-week losing streak since 2008

Microsoft CEO Satya Nadella speaks at the Microsoft Build AI Day event in Bangkok, Thailand, on May 1, 2024. With about 10 minutes left until the market's close, Microsoft's stock was down for the week. It would've been the first eight-week losing streak since 2008. But the shares popped just before the end of trading, pushing the stock up 0.7% for the week to close at $391.26. It's still down 7% for the year. The last time Microsoft had a weekly slump like its seen this year was between January and February 2008, when the country was in the midst of a financial crisis. Microsoft shares fell nine straight weeks. Microsoft's 2025 downdraft is notable as the company is viewed as central to the artificial intelligence boom. It has a hefty stake in OpenAI, is investing heavily in its Azure cloud infrastructure and has many products that are incorporating generative AI technologies. Along with its megacap peers, Microsoft has seen a recent pullback on concerns that President Donald Tru ... Read full article.