Microsoft shares head for worst month since 2000 as AI concerns wipe out $570 billion

Microsoft shares fell about 17% in June 2025, on track for the worst monthly performance since December 2000, wiping out approximately $570 billion in market value. Investor concerns centre on heavy AI infrastructure spending, with $190 billion in projected capital expenditure through end-December exceeding Wall Street expectations, and slower-than-expected Azure cloud growth. Despite the correction, Microsoft trades at about 19 times forward earnings, below the S&P 500's forward multiple of around 20, attracting value buyers including Michael Burry who disclosed long-dated call option purchases, lifting the stock nearly 6% on Friday.