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 SEATTLE (AP) - Microsoft Corp. shares sank more than 11 percent to a new 52-week low Friday after the company said it planned to significantly beef up investments in many areas where it is not dominant, but refused to provide details.
Analysts said such investments, while risky, may pay off in the long term but could hurt more immediate financial results at the world's largest software maker.
Microsoft shares fell $3.10 to close at $24.15 on the Nasdaq Stock Market, reducing its market capitalization by more than $32 billion. Chairman Bill Gates, the company's co-founder, saw the value of his Microsoft stock shrink to $23.6 billion, down just over $3 billion.
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