MSFT is trading at $404.38 (-4.7%) following signals of substantial AI infrastructure spending increases that overshadowed strong Q3 earnings reported on April 29, 2026.
- The selloff follows management's outlook for higher future capex, which contrasted with a Q3 spending undershoot that had initially calmed investor nerves.
- Microsoft is underperforming the broader market (S&P 500 +0.86%, Nasdaq +0.96%) as investors prioritize current earnings over future tech spend, a trend also seen in Meta.