Azure, AI Capex, and What to Expect Out of Microsoft Through The End of 2026

Quick Read Azure's $678 billion contracted backlog, up 84%, and guided 45% constant-currency growth give MSFT multi-year revenue visibility few software companies can match. MSFT has trailed SPY by 900 basis points year to date despite five straight EPS beats, with a consensus analyst target implying 16% upside. Calendar 2026 capex of roughly $175 billion pushed Q4 free cash flow down 23%, giving bears a credible case if AI returns disappoint. Just released. Our analysts combed the entire stock market and named the ten best stocks to buy right now, and Microsoft didn't make the cut. Enter your email to see the names that beat MSFT. The report is free. Enter your email and see if any of your stocks made the cut. At $493.