Microsoft avoids eight-week losing streak with late rally

Microsoft's stock faced a tough week but managed to rally in the final moments of trading. With ten minutes left before the market closed, shares were initially down. If this trend had continued, it would have marked Microsoft's first eight-week losing streak since 2008. However, the stock ended the week up 0.7%, closing at $391.26. Despite this small gain, Microsoft is still down 7% for the year. The last significant weekly decline for Microsoft occurred between January and February of 2008 during a financial crisis when shares dropped for nine consecutive weeks. This year, concerns about the economy, particularly related to President Donald Trump's tariffs and cost-cutting measures, have contributed to the stock's downturn. Microsoft, a key player in artificial intelligence and cloud computing, has seen its shares drop about 16% from a closing high in July 2024. The company's market value now stands at $2.9 trillion following disappointing revenue forecasts released in late January. As competition grows in cloud services and AI, Microsoft faces challenges from rivals like Amazon and Google. Recently, Google announced plans to acquire the cloud security startup Wiz for $32 billion, highlighting the intense competition in this sector.