Microsoft’s stock may be ‘dead money’ even after historic $357 billion market-cap wipeout

Microsoft’s post-earnings stock reaction was the most severe in nearly 13 years, highlighting investor impatience with the company’s artificial-intelligence spending relative to its ability to monetize AI.

The stock

MSFT lost 10% in Thursday’s session, making for its steepest post-earnings drop since July 19, 2013, when it fell 11.4%, and its worst one-day decline for any sort of session since March 16, 2020, when it slid 14.7%, according to Dow Jones Market Data.