Shares of Microsoft Corp. (NASDAQ: MSFT) experienced a decline of 1.70% on Tuesday, with the stock trading at $312.14. This drop was part of a broader downturn in the market, as both the S&P 500 Index (NYSE: SPX) and the Dow Jones Industrial Average (NYSE: DJIA) also registered losses.
Falling Short of 52-week High
Microsoft Corp. closed $54.64 below its 52-week high of $366.78, which it reached on July 18th. While this may be disappointing news for investors, it’s important to note that the stock still outperformed some of its competitors during this challenging trading session.
Several major tech players saw their stocks decline as well on Tuesday. Apple Inc. (NASDAQ: AAPL) fell 2.34% to $171.96, while Alphabet Inc. Class C (NASDAQ: GOOG) and Alphabet Inc. Class A (NASDAQ: GOOGL) experienced drops of 2.06% ($129.45) and 1.94% ($128.57), respectively. Despite Microsoft’s losses, it fared relatively better compared to these industry rivals.
Increased Trading Volume
On Tuesday, the trading volume for Microsoft Corp. reached 26.0 million shares, surpassing its 50-day average volume of 25.1 million shares.