Microsoft Outage Woes Down to DDoS Attacks, Stock Remains Largely Unaffected
Key takeaways
- Microsoft users saw Teams, Outlook and other Microsoft services go down earlier this month
- Hacker group Anonymous Sudan claimed responsibility soon after, while in a blog post last week Microsoft confirmed it was indeed a cyberattack
- Microsoft stock hit an all-time high last week, with investors more concerned with generative AI than outages
Microsoft has confirmed it suffered a cyberattack at the hands of the suspected pro-Russian hacker group Anonymous Sudan. While Microsoft has reassured users that their data is safe and the impact was minimal, investors have largely shrugged off the matter as Microsoft’s stock continues its upward march.
Thanks to generative AI, Microsoft has been one of the big winners on the stock market this year. You can use AI to navigate the tricky market with Q.ai’s Emerging Tech Kit, whose algorithm assesses the reams of weekly data to predict which tech stocks and ETFs are set to perform well. It then dynamically adjusts the Kit’s holdings to help make sure you’re getting the most out of every cent.
Download Q.ai today for access to AI-powered investment strategies.
What happened with Microsoft outages?
Earlier this month, Microsoft users were stunned to see their usual trusty Microsoft services, such as Teams and Outlook, were unusable for hours. Microsoft has now confirmed that the root cause of the outage was, in fact, a cyberattack on the services.
In a blog post, Microsoft confirmed that it had “identified surges in traffic against some services that temporarily impacted availability”. A later investigation saw the Big Tech giant name the group Storm-1359.
A hacker group called Anonymous Sudan has since claimed responsibility for the attacks, which is an alleged pro-Russian cyberattack group, but Microsoft has reassured users their data is safe. “We have seen no evidence that customer data has been accessed or compromised,” Microsoft said.
What was the market reaction?
Microsoft’s stock closed down from the previous day on Friday, sliding to $342. The stock has since lost a further 0.96% on Tuesday. But given Microsoft has suffered four service outages this year, the stock has performed remarkably well thanks to its big bet on generative AI which has taken the world by storm.
Microsoft has gained over 41% since the start of the year as it’s unveiled a slew of AI-powered products and a multi-billion dollar partnership with OpenAI. The company even hit an all-time high on Thursday last week, reaching $348.10 as interest rate optimism boosted the market.
While cyberattacks are serious for Microsoft, investors don’t appear to be phased by their impact ain the face of generative AI’s impact.
The bottom line
Microsoft has suffered several outages this year already. It’s possible their collective impact would have been felt more had the Big Tech behemoth not had the generative AI halo effect on its share price, but thankfully for investors, they haven’t seen a major fluctuation in the stock.
Did you know you can use AI to help invest in the stock market and catch the upside of the Big Tech companies performing well? It’s all possible with Q.ai’s Emerging Tech Kit, which holds a diversified basket of tech stocks and ETFs to help you build wealth in the volatile tech market without the upfront work.
Download Q.ai today for access to AI-powered investment strategies.
