Microsoft: I Don't See An AI Bubble (NASDAQ:MSFT)

Microsoft ( MSFT ) ( MSFT:CA ) is down 10% after the 1Q FY2026 earnings. The stock did not catch up to the rally this time, even though the equity market rebounded last week. Is MSFT still in an AI bubble? I don'tI'm specialized in fundamental equity research, global macro strategy, and top-down portfolio construction. I'm a senior analyst at a multi-strategy hedge fund with 7 years of experience. I graduated from UCLA with a degree of Business Economics and UMich Ross School of Business with a Master of Ac ...