Microsoft stock was up 3% today even though the broader tech market was down, with the S&P dropping 1.2% and the Nasdaq down 1.4%. The move happened after news broke that Bill Ackman's Pershing Square bought MSFT shares and sold out of their Alphabet position. Ackman said he likes Microsoft's valuation after recent sell-offs, pointing specifically to their strong position in cloud services and office software. He noted this makes them a solid buy even with Copilot lagging behind other AI chatbots. MSFT is currently down 13% for the year and 22% from its all-time high.