Microsoft’s record $450bn single-day market cap gain drives a global tech rally, boosting indices and semiconductor stocks despite weak market breadth.
Microsoft’s earnings triggered a $450bn increase in its market capitalization, the largest single-day gain for any company, lifting global tech stocks. The surge followed strong cloud and AI demand, propelling Microsoft shares up 15.51%, their best day since 2008.
The rally extended to the NASDAQ, which rose 2.78%, and the Philadelphia semiconductor index, which jumped 8.19%, its biggest advance since April 2023. The S&P 500 gained 1.66%, its best performance in seven weeks, though most constituents declined. Asian markets followed, with the KOSPI surging 16.4% and the Nikkei up over 4%.
Amazon’s shares rose nearly 10% in extended trading after reporting accelerated cloud revenue growth, offsetting Apple’s weaker outlook. Meta, however, fell 7.95% after its results disappointed investors.