# Microsoft (NASDAQ:MSFT) stock is a clear example of what happens when powerful growth from a tech heavyweight runs into a more challenging market backdrop.

*business · news · 2026-04-12 · Markets Insider*

## Key points

- Microsoft Cloud’s remaining performance obligations are projected to reach $625 billion by end of 2025.
- Microsoft's last quarter capex spending grew 66% year-over-year to $37.5 billion.
- Investor Bernard Zambonin highlights a disconnect between AI growth narrative and current financial results.
- Zambonin is waiting for clearer evidence that CapEx, Azure, and Copilot are delivering tangible returns.

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

[Read the full story on Markets Insider](https://markets.businessinsider.com/news/stocks/this-isn-t-the-time-says-investor-about-microsoft-stock-msft-1036013906)

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