Jin Rong Jie·2026-01-28 21:54Core Viewpoint - Microsoft's quarterly revenue slightly exceeded expectations, but the significant growth in its cloud computing business disappointed investors seeking higher returns, leading to a more than 7% drop in its stock price in after-hours trading [1] Group 1: Financial Performance - Microsoft's Azure cloud division reported a revenue growth of 39% in the second fiscal quarter, surpassing the market expectation of 38.8% [1] Group 2: Competitive Landscape - Microsoft has maintained a first-mover advantage in the AI race among major tech companies due to its early investment in OpenAI, which supports many of its products, including M365 Copilot [1] - The recent launch of Google's Gemini model and the release of autonomous agents like Anthropic's Claude Cowork pose risks to Microsoft's AI business and its long-standing software products [1] Group 3: Investor Sentiment - Ongoing investor skepticism regarding whether large tech companies can deliver sufficient returns to justify their investments in AI has put pressure on Microsoft's stock price [1]