Microsoft Stock Holds Up Despite Rising Capex Concerns

Microsoft's stock has surged by 31.2% over the past three months, outperforming its industry and sector.

The company's cloud business remains a key growth driver, with Azure and other cloud services revenues growing 43% year-over-year in fiscal Q4.

Microsoft is expanding its Sovereign Cloud offerings through an enhanced partnership with Mistral and scaling custom silicon across the fleet to improve performance per dollar and per watt.

The Zacks Consensus Estimate for Microsoft's fiscal 2026 earnings is $19.62 per share, indicating 9.3% growth.