Microsoft's market value evaporates $570 billion, threatening its worst monthly performance since 2000.

Deep Tide TechFlow news, June 29 — As investors continue to worry about Microsoft's (MSFT.O) prospects in the AI era, the software giant's stock is heading for its worst monthly performance since the dot-com era. The stock has fallen 17% in June, which would be its worst single-month decline since December 2000. The sell-off has erased more than $570 billion from the company's market cap, and the stock fell to its lowest closing price since 2023 on Thursday before rebounding on Friday.

Jack Ablin, chief investment strategist at Cresset Wealth Advisors, which holds the stock, said: "Microsoft is under dual pressure, worrying about both AI spending and the disruptive impact of AI. Although it looks like a good investment from a low valuation standpoint, I get the feeling that investors are currently taking a 'sell first, ask questions later' approach." (Jin Shi)