Microsoft shares fall 2% as Anthropic tools challenge Office
Microsoft shares fell over 2% on Wednesday despite a broader tech sector rebound, extending losses after a similar decline the previous day. The drop came as Anthropic launched new work tools that could challenge Microsoft's Office business. Anthropic introduced Claude Sheets, Whiteboards, and Data in beta, with Claude Sheets posing a direct challenge to Microsoft Excel. The AI-powered spreadsheet allows users to create workbooks via commands and integrates with services like Airtable and Asana. Analysts remain positive on Microsoft, with Evercore ISI and RBC Capital reiterating buy ratings and price targets above $600. Microsoft also faces infrastructure challenges, urging the Trump administration to reconsider a proposed ban on Chinese optical transceivers used in data centers.