Microsoft stock has had a rough first quarter, with its share value down around 13 per cent year-to-date, as of Wednesday, April 15.

That constitutes Microsoft’s most dramatic quarterly slump since the ‘08 crisis, and leaves the stock trading at multiples not seen since 2022.

It marks the continuation of a longer decline that set in after the stock reached an all-time high in October 2025, since when it has plummeted from $539.83 per share to around $410.

The correction came despite strong earnings reports, and at a time when other US tech firms either made gains or suffered more limited losses.

The rout has been blamed on investor fears over Microsoft’s massive AI spend, as well as a broader sell-off in…