Microsoft shares dropped 10% after disappointing earnings, losing $357 billion in market cap. Tech-heavy Nasdaq fell 0.7%. However, Meta shares surged 10% with strong results. Microsoft’s Azure cloud growth at 39% missed expectations, while revenue guidance was lower. Analysts debate on Microsoft’s strategy, with some urging more data center construction. Microsoft defends decisions, focusing on long-term growth.

Read more at CNBC: Microsoft lost $357 billion in market cap in earnings plunge