# Microsoft (MSFT) is scheduled to announce its fiscal third-quarter results on April 29.

*business · news · 2026-04-28 · Markets Insider*

## Key points

- BMO analyst Keith Bachman lowered his MSFT price target to $505 from $575 ahead of Q3 earnings.
- Bachman attributes the price target cut to compression in software sector valuation multiples, not Microsoft fundamentals.
- Consensus estimates for Microsoft's FY27 capital expenditures may be too low, according to Bachman.
- Bachman expects management to provide more clarity on future capital spending during earnings, which could reset investor expectations.

**Companies:** Microsoft
**Countries:** United States

[Read the full story on Markets Insider](https://markets.businessinsider.com/news/stocks/top-analyst-lowers-microsoft-stock-msft-price-target-ahead-of-q3-earnings-here-s-why-1036073765)

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