Core Insights - Microsoft (MSFT) shares dropped approximately 14% following the release of its Q2 fiscal 2026 earnings, despite beating revenue and earnings estimates with non-GAAP EPS of $4.14 and revenue of $81.3 billion, reflecting a 17% year-over-year growth [1][7] Financial Performance - The cloud infrastructure segment remains a key growth driver, with Azure and other cloud services growing 39% in constant currency, although this is a slight deceleration from the previous quarter's 40% growth [3] - Microsoft Cloud revenues surpassed $50 billion for the first time, reaching $51.5 billion with a 26% year-over-year growth, but gross margins compressed to just over 68%, the narrowest level in three years due to heavy AI infrastructure investments [3][7] - Commercial bookings surged to 230%, up from 112% in the previous quarter, with remaining performance obligations reaching $625 billion, indicating strong enterprise demand for Microsoft's offerings [4][7] Segment Performance - The Productivity and Business Processes segment generated $34.1 billion in revenues, reflecting a 16% growth, driven by the adoption of Microsoft 365 services [4] - The More Personal Computing division faced challenges, with revenues declining approximately 3% to $14.25 billion, and gaming revenues falling 9.5% due to an unspecified impairment charge [5] Future Guidance - For fiscal Q3, Microsoft projects revenues between $80.65 billion and $81.75 billion, implying growth of approximately 15% to 17%, with Azure revenue growth expected at 37% to 38% in constant currency [6][7] - Operating margins are anticipated to decline slightly year-over-year, but management raised full fiscal year 2026 operating margin expectations [7] AI Integration and Competitive Landscape - Microsoft is expanding AI capabilities across its product portfolio, with recent enhancements in Excel and Outlook, although monetization of these features is still in early stages [9] - Microsoft trades at a forward price-to-sales ratio of 8.67, a premium compared to the industry average of 7.03, reflecting the market's recognition of its cloud position [10] - Over the past six months, Microsoft shares have lost 21.1%, underperforming competitors like Alphabet and Amazon, which have seen significant returns [13] Investment Considerations - The investment case for Microsoft includes strong competitive positioning in enterprise cloud, a massive backlog of contracted future revenues, and leadership in generative AI applications [17] - However, elevated capital expenditure requirements, compressed margins, and capacity constraints create uncertainty regarding near-term financial performance [17]

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Quick Summary ChatGPT thinks Microsoft stock could trade lower over the next 60 days, projecting an average price around $480 by mid-April. Investors looking to trade the stock can build exposure incrementally using commission-free fractional shares on SoFi, starting with as little as $5, and new users can receive up to $1,000 in free stock. Rather than slowly scaling position size through a retail acc ...

智通财经获悉，周三美股盘后，微软(MSFT.US)公布了2026财年第二季度财报。尽管其营收与利润双双 超出华尔街预期，且整体云业务营收首次突破500亿美元大关，但Azure云服务收入增速的放缓以及创纪 录的资本开支，引发了投资者对人工智能(AI)投资回报周期的忧虑，这导致其股价在盘后交易中大幅下 跌。 核心财务数据表现强劲 在截至12月31日的财年第二季度，微软营收达到812.7亿美元，同比增长约17%，高于市场普遍预期的 803亿美元。净利润为384.6亿美元，合每股收益5.16美元，远超市场预期的3.92美元。调整后每股收益 为4.14美元，同样高于预期。 值得注意的是，净利润的大幅跃升部分得益于对OpenAI投资会计处理的变更所带来的收益，这部分收 益为每股收益增厚1.02美元。 云业务营收创新高但增速微降 本季度，微软包含Azure在内的"智能云"部门营收为329.1亿美元，同比增长近29%，略高于预期。然 而，市场更为关注的Azure及其他云服务收入增速成为焦点。 根据公司披露，按固定汇率计算，Azure及其他云服务营收同比增长38%，刚好符合分析师的预测，但 增速较前一季度放缓了一个百分点。DA ...

（原标题：微软(MSFT.US)财报亮眼却遭市场"用脚投票"：云业务增速微降 AI"狂烧钱"吓坏投资者） 智通财经APP获悉，周三美股盘后，微软(MSFT.US)公布了2026财年第二季度财报。尽管其营收与利润 双双超出华尔街预期，且整体云业务营收首次突破500亿美元大关，但Azure云服务收入增速的放缓以及 创纪录的资本开支，引发了投资者对人工智能(AI)投资回报周期的忧虑，这导致其股价在盘后交易中大 幅下跌。 核心财务数据表现强劲 尽管微软云业务整体营收首次突破500亿美元，达到515亿美元，但Azure增速的"微降"被市场解读为AI 驱动的云增长故事可能面临波动的信号。 资本开支激增，AI投资回报引质疑 更令市场感到压力的是微软激增的资本支出。本季度，微软资本支出达到375亿美元，同比大增66%， 且超出分析师预期的362亿美元。其中，该公司约三分之二的支出用于计算芯片，以建设数据中心满足 AI需求。 首席执行官Satya Nadella在财报电话会上表示，仅本季度就增加了近1吉瓦的算力容量。尽管投资巨 大，但公司高管此前已多次提及AI服务需求旺盛，导致产能供应紧张，这在一定程度上制约了营收的 更快增长 ...

智通财经APP获悉，周三美股盘后，微软(MSFT.US)公布了2026财年第二季度财报。尽管其营收与利润 双双超出华尔街预期，且整体云业务营收首次突破500亿美元大关，但Azure云服务收入增速的放缓以及 创纪录的资本开支，引发了投资者对人工智能(AI)投资回报周期的忧虑，这导致其股价在盘后交易中大 幅下跌。 作为全球最大的软件企业，微软云计算业务此前实现快速增长，这在一定程度上得益于其与AI头部初 创企业OpenAI达成的里程碑式合作。但尽管在数据中心领域投入巨资，微软仍难以快速扩充足够的算 力产能以满足需求。 核心财务数据表现强劲 在截至12月31日的财年第二季度，微软营收达到812.7亿美元，同比增长约17%，高于市场普遍预期的 803亿美元。净利润为384.6亿美元，合每股收益5.16美元，远超市场预期的3.92美元。调整后每股收益 为4.14美元，同样高于预期。 值得注意的是，净利润的大幅跃升部分得益于对OpenAI投资会计处理的变更所带来的收益，这部分收 益为每股收益增厚1.02美元。 云业务营收创新高但增速微降 本季度，微软包含Azure在内的"智能云"部门营收为329.1亿美元，同比增长近29 ...

With a market cap of $3.5 trillion, Microsoft Corporation (MSFT) is a global technology company that develops and supports a wide range of software, cloud services, devices, and solutions across productivity, business, cloud computing, and personal computing. It delivers products and services such as Microsoft 365, Azure, Windows, LinkedIn, Dynamics, and Xbox through OEMs, partners, and digital and retail channels worldwide. Shares of the Redmond, Washington-based company have lagged behind the broader m ...

Core Viewpoint - Microsoft is a leading technology company with a market cap exceeding $3.4 trillion, and its upcoming fiscal Q2 2026 earnings announcement is highly anticipated as it may signal a turning point for investors after a volatile start to the year [1] Group 1: Earnings and Performance - Microsoft is experiencing double-digit earnings growth, yet its stock has underperformed compared to the overall tech sector, raising concerns about the costs associated with AI investments, particularly in OpenAI [2] - In the last 52 weeks, Microsoft shares have increased by approximately 6%, lagging behind the S&P 500 Index's growth of 16.2% and the Technology Select Sector SPDR ETF's increase of 23% [4] - The most recent earnings report for fiscal Q1 2026 showed an EPS of $4.13 on revenue of $77.67 billion, surpassing street estimates, although shares fell by 3% the following day [6] Group 2: Valuation and Market Position - Microsoft is currently trading at 29 times forward earnings and 12 times sales, slightly above historical averages, reflecting expectations for growth in cloud computing and AI [5] - The company's diversified business model and leadership in enterprise software contribute to its resilience as a large-cap stock [3]

Core Insights - The Alger Spectra Fund's fourth-quarter 2025 investor letter indicates a strong performance in the US equity market, with the S&P 500 rising by 2.7% due to better-than-expected corporate earnings and a supportive macroeconomic environment [1] - The letter highlights the divergence in market performance, particularly the scrutiny surrounding AI investments, while also noting an increase in U.S. business spending driven by demand for AI infrastructure and tax incentives [1] - Despite the overall market strength, Class A shares of the Fund underperformed the Russell 3000 Growth Index in Q4 2025, with specific sectors contributing differently to performance [1] Company Insights - Microsoft Corporation (NASDAQ:MSFT) is identified as a key stock in the Fund's portfolio, with a one-month return of -5.17% and a 52-week gain of 7.19% [2] - The company operates through three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing, and is seen as a beneficiary of corporate digitization [3] - Microsoft reported a year-over-year growth of 39% in Azure cloud services, but its stock performance was impacted by lower-than-expected growth guidance and capacity constraints [3] - Demand signals for Microsoft improved, with commercial bookings up approximately 111% year-over-year and remaining performance obligations rising by 51% [3] - To address capacity issues and support AI/cloud workloads, Microsoft plans to increase capital expenditures to around $30 billion in the current quarter, with expectations for higher CapEx growth in fiscal 2026 compared to fiscal 2025 [3]

Company Overview - Microsoft Corporation (MSFT) has a market cap of $3.5 trillion and operates in software, services, devices, and solutions across productivity, cloud computing, and personal computing [1] Financial Performance - Analysts forecast Microsoft to report an adjusted EPS of $3.86 for fiscal Q2 2026, representing a 19.5% growth from $3.23 in the same quarter last year [2] - For fiscal 2026, the expected adjusted EPS is $15.86, an increase of 16.3% from $13.64 in fiscal 2025 [3] - Microsoft reported Q1 2026 adjusted EPS of $4.13 and revenue of $77.67 billion, but shares fell 2.9% the following day due to profitability pressures from AI investments, including $3.1 billion in losses related to OpenAI [5] Stock Performance - Over the past 52 weeks, Microsoft shares have gained 11.8%, underperforming the S&P 500 Index's 16.2% rise and the State Street Technology Select Sector SPDR ETF's 22.9% return [4] Analyst Ratings - The consensus view on MSFT stock is bullish, with a "Strong Buy" rating from 39 out of 48 analysts, while five recommend "Moderate Buys" and four suggest "Holds" [6] - The average analyst price target for Microsoft is $630.07, indicating a potential upside of 31.7% from current levels [6]

Core Viewpoint - The article highlights three technology stocks that are currently available at attractive prices, offering potential for both dividend growth and capital gains as the market continues to recover from previous corrections [1]. Group 1: Microsoft - Microsoft (MSFT) has shown stability and growth potential, with its Cloud segment revenue increasing by 26% year over year in Q1 of its fiscal year [4][6]. - The Intelligent Cloud segment, driven by AI demand, reported a 28% year-over-year revenue increase, with Azure's revenue growing by 40%, indicating a strong growth trajectory [5]. - The stock is currently priced at $485.46, with a market cap of $3.6 trillion and a P/E ratio of 26, reflecting a fair valuation for a company expected to grow earnings at an annualized rate of 16% to 17% [6]. Group 2: Motorola Solutions - Motorola Solutions (MSI) specializes in communications equipment and software for various sectors, having acquired Silvus Technologies for $4.4 billion to enhance its offerings [7][8]. - The company is projected to grow earnings by 9% annually over the next three to five years, with the stock trading at a P/E ratio of 25, which is below its 10-year average of 32 [10]. - The current stock price is $383.38, with a market cap of $64 billion, making it a solid investment opportunity [9]. Group 3: Automatic Data Processing - Automatic Data Processing (ADP) provides essential technology tools for payroll and HR functions, benefiting from a growing global workforce [11][12]. - The company has a strong track record of dividend increases, having raised its dividend for 50 consecutive years, with an average increase of 11.5% annually over the past decade [12]. - ADP's stock is currently priced at $258.51, with a market cap of $105 billion, trading at 23 times its full-year earnings estimates, presenting a favorable buying opportunity [13][14].