By Chris Markoch
Publication Date: 2026-10-01 13:10:00
Microsoft NASDAQ: MSFT investors have owned two different companies in 2026. Or at least, they’ve been told two very different stories about the same one.
Microsoft Today
$517.69 +4.79 (+0.93%)
As of 09:34 AM Eastern
This is a fair market value price provided by Massive. Learn more.
- 52-Week Range
- $349.20
▼
$553.72
- Dividend Yield
- 0.70%
- P/E Ratio
- 28.94
- Price Target
- $571.18
In the first half of the year, the story was fear. AI would disrupt software. Copilot was an expensive add-on nobody would pay for. Data center spending looked out of control. Not surprisingly, by late June, MSFT had sunk to roughly $355.
But in the second half, the story is about discipline. Microsoft shares rose more than 36% in the last three months and turned positive for the year. It’s a remarkable comeback for a stock that had fallen 20%.
The reason why may come as a surprise. The same capital spending that scared…