MSFT·TechnologyHOLD

Microsoft Corporation

Debjit Mukherjee·August 6, 2026

Price Target

$504

Upside

+3.1%

Investment Thesis

Microsoft just reported one of its best quarters ever, and we still rate it HOLD. Four years of extraordinary operating progress have produced almost no additional free cash, because the capital programme absorbed all of it. The recent capex guidance cut is the first evidence of discipline and the swing factor for the thesis. Our fair value is USD 504 against USD 488.63 today.

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Report Details

AnalystDebjit Mukherjee

PublishedAugust 6, 2026

SectorTechnology

RatingHOLD

Price Target$504

Current Price$488.63

For educational purposes only. Not investment advice. Price targets reflect analyst estimates as of the publication date.