Microsoft’s stock surged late on Mar. 21, ending a potential eight-week losing streak.

The stock increased by 0.7% for the week, closing at US$391.26. However, it is still down 7% for the year.

The last time Microsoft faced a similar decline was during the financial crisis of 2008, when its stock fell for nine consecutive weeks.

This current downturn follows concerns about its growth outlook and disappointing revenue guidance issued on Jan. 30.

Recent Microsoft developments