By Daniel Sparks
Publication Date: 2026-09-26 00:41:00
Microsoft (MSFT +3.66%) spent the first half of 2026 moving the wrong way. From a record close of $542.07 on Oct. 28, 2025, the stock fell to $352.83 by June 25 — a drop of about 35%.
The recovery has been just as sharp. At roughly $516 as I write, including a gain of over 3% on Friday, shares have risen about 46% from the late-June low. They are now only about 5% off the record.
But most of the rebound happened in one week. The stock leaped around 26% in the four trading days after Microsoft’s fiscal fourth-quarter report on July 29. It has mainly traded between about $480 and $515 since.
So, is what’s left of the gap to the record a buying window, or have the easy gains already been made?
Image source: Getty Images.
A $190 billion tab
When Microsoft posted its fiscal third-quarter results in late April, Amy Hood, the company’s chief financial officer, said it expected to spend around $190 billion on capital expenditures in calendar 2026.
