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Microsoft (MSFT) has been under pressure this year, and that pullback is exactly what caught the attention of Bill Ackman. On May 15, Pershing Square disclosed a new Microsoft stake after starting to build the position in February. Ackman said the valuation looked compelling after MSFT stock slid on slower cloud growth and a sharp rise in spending.
Shares of Microsoft jumped 3% on the news, serving as a reminder that Wall Street still treats the stock like a market heavyweight.
