Microsoft falls toward support amid Big Tech sell-off and AI capex concerns
Microsoft shares remain under pressure after the broader decline in the technology sector. According to AP, MSFT lost around 2.3% on June 24, while the Nasdaq closed below its 50-day moving average for a second consecutive day.
On the chart, the price has dropped toward $365-366, close to a local support zone after a sharp pullback from the $460 area.
Financial results and cloud
Fundamentally, the business remains strong. In the quarter ended March 31, 2026, Microsoft reported revenue of $82.9 billion, up 18% year over year, net income of $31.8 billion and EPS of $4.27. Microsoft Cloud grew 29% to $54.5 billion, while Azure and other cloud services rose 40%, confirming resilient demand for cloud and AI infrastructure.
AI and capital spending
The main valuation risk is not revenue, but the scale of AI investment. Microsoft said its AI business exceeded an annual run rate of $37 billion, but the market is closely watching the payback on data-center spending. Future data-center and energy commitments are also drawing attention, along with reports that Microsoft is trying to reduce water use at new AI data centers.
Technical picture from the chart
On the 4-hour chart, MSFT remains in a downward impulse, with moving averages pointing lower. The nearest support is around $360-365. If the price consolidates below this zone, pressure could extend toward $350-345. For recovery, buyers need to push the stock back above $380 and then consolidate above $400, where the key resistance area after the latest sell-off is located.
Conclusion
In the short term, the balance remains cautiously negative. Strong Azure and Microsoft Cloud results support the long-term investment case, but the market is currently punishing Big Tech for high AI capex, Nasdaq weakness and anticipation of fresh macro data. As noted in Microsoft remains under pressure from AI spending despite Azure growth, the base scenario assumes an attempt to hold the $360-365 zone, but without a return above $380, rebounds may remain technical.
Latest Microsoft News
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