One of the biggest market drivers of technology stocks over the past couple of years has been rapid advancements in the field of artificial intelligence (AI). These next-generation algorithms took a giant leap forward from their predecessors,

The Nasdaq could face market-cap losses of nearly $1 trillion if premarket declines hold into the close of trading.

Microsoft stock currently trades at a price-to-earnings (P/E) ratio of 35.4, which is a 7.5% premium to its 10-year average of 32.9. It's also a premium to the tech-heavy Nasdaq-100 index, which includes Microsoft's big-tech peers and currently has a P/E ratio of 32.5.