The run-up in the share price has been huge. Since Nadella was appointed CEO of Microsoft in February 2014, following the retirement of Steve Ballmer, shares of Microsoft have risen by 800%, in a near perfect and dizzying exponential curve that defied gravity, with well over half that gain in the last 20 months, giving the company a market capitalization of $2.5 trillion.


The Nasdaq fell 2.6% today and is now again down over 20% from its peak last November. A lot of stocks got hammered today. But it was the giants that stole the spotlight. They’re now letting go.