Core Viewpoint - The Federal Trade Commission (FTC) is intensifying its antitrust investigation into Microsoft, focusing on potential competitive barriers in the cloud computing and AI sectors, which may further pressure the company's stock price amid capital expenditure concerns [1] Stock Performance - Microsoft's stock has experienced significant volatility recently, with a 16.48% decline year-to-date and an 11.55% drop over the past 20 days, reflecting market worries about AI capital expenditures and growth slowdown [1] - On February 13, 2026, Microsoft's stock closed at $403.92, up 0.52% for the day after fluctuating between gains and losses from February 9 to 13 [1] Financial Report Analysis - In the second quarter of fiscal year 2026, Microsoft reported total revenue of $81.3 billion, a 17% year-over-year increase, with a Non-GAAP EPS of $4.14, exceeding market expectations [1] - Azure's growth rate was 38% at constant currency, slightly lower than previous periods, and capital expenditures of $37.5 billion raised concerns about profit margins [1] Analyst Perspectives - Analysts have mixed views on Microsoft's outlook; Stifel downgraded its rating from "Buy" to "Hold" in early February, setting a target price of $392 due to concerns over capital expenditure pressures [1] - Conversely, Morgan Stanley remains optimistic about Microsoft's AI integration capabilities, considering it a stock that has been undervalued [1]
微软遭FTC反垄断调查，股价承压，财报超预期但Azure增速放缓