By Vuk Zdinjak
Publication Date: 2026-02-25 04:07:00
Microsoft (MSFT) stock has lost about 20% year to date, at the time of writing, Tuesday afternoon, Feb. 24, according to Yahoo Finance. Meanwhile, the SPDR S&P 500 index (SPY) is up about 0.7% in the same period.
The stock crashed following its Q2 fiscal year 2026 earnings report on January 28. It closed at $481.63, and the following day it closed at $433.55, losing about 10% in a single day.
The company’s huge capital expenditures and reliance on OpenAI contributed to the crash.
“Approximately 45% of our commercial [remaining performance obligations] balance is from OpenAI,” CFO Amy Hood said during the earnings call.
That means 45% of the $625 billion backlog, according to Form 10-Q, is dependent on OpenAI. Many investors believe that it is a big risk. I did an in-depth analysis of why investing in OpenAI might be a mistake in my article “AMZN, MSFT, NVDA, SFTBY setting $100 billion on fire.”
Just before the earnings, Microsoft announced Maia 200, its…
