--- title: "Trillion-dollar market value evaporated! Copilot's performance fell short of expectations, and Microsoft's stock price faced the worst performance since the 2008 financial crisis" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/280534545.md" description: "Under the dual pressure of cooling artificial intelligence narratives and adjustments in market expectations, Microsoft's stock price continues to weaken, experiencing its weakest period since the financial crisis. On Wednesday, Microsoft's stock price fell by 0.46%, closing at $371.04, marking the lowest closing level since April 2025. UBS analysts pointed out that Microsoft's core AI product, Copilot, has performed \"disappointingly,\" with market acceptance slower than expected, leading to a target price downgrade from $600 to $510. The number of Copilot subscription users is approximately 15 million seats, below market expectations, especially in the Asian market" datetime: "2026-03-25T22:21:08.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/280534545.md) - [en](https://longbridge.com/en/news/280534545.md) - [zh-HK](https://longbridge.com/zh-HK/news/280534545.md) --- > 支持的语言: [English](https://longbridge.com/en/news/280534545.md) | [繁體中文](https://longbridge.com/zh-HK/news/280534545.md) # Trillion-dollar market value evaporated! Copilot's performance fell short of expectations, and Microsoft's stock price faced the worst performance since the 2008 financial crisis Under the dual pressure of cooling artificial intelligence narratives and market expectation adjustments, Microsoft's (MSFT.US) stock price continues to weaken, experiencing its weakest period since the financial crisis. According to Zhitong Finance APP, on Wednesday, Microsoft's stock price fell by 0.46%, closing at $371.04, marking the lowest closing level since April 2025. Data shows that the stock has performed poorly this year, heading towards the worst start to a year on record, and is also expected to record the largest quarterly decline since the fourth quarter of 2008. Compared to the historical closing high of $542.07 set in October 2025, Microsoft's stock price has now retraced nearly 32%. One important reason for the weakening market sentiment is that the progress of AI product implementation has not met expectations. UBS analysts recently pointed out in a report that Microsoft's core AI product, Microsoft 365 Copilot, has performed "disappointingly," with market acceptance slower than previously expected. The firm maintains a "buy" rating but has lowered its 12-month target price from $600 to $510, emphasizing that the performance of the Copilot business needs significant improvement to drive the stock price back to a premium valuation. Microsoft stated that Copilot has been restructured over the past year to fully leverage technological advancements from OpenAI and Anthropic, claiming that user engagement was "very good" as of the last quarter of December. However, market feedback remains cautious. Analysts noted that the current number of Copilot subscription users is about 15 million seats, still below market expectations, especially in the Asian market, where corporate clients generally believe its value has not yet been fully realized. In addition, there is a divergence in market views on the growth prospects of Microsoft's cloud business. The company remains optimistic about Azure demand, but has not provided further guidance on revenue growth or computing power expansion for future quarters. Analysts believe that changes in GPU resource allocation may still limit Azure's growth pace in the short term. It is worth noting that Microsoft has adopted an "open collaboration" strategy in the AI competition, such as partnering with Anthropic to develop Copilot-related features, which some analysts view as a "necessary and wise response." However, overall, the market is still waiting for clearer commercialization results. As a result of the continuous decline in stock prices, Microsoft's market value has evaporated by approximately $1.28 trillion since its historical peak. 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