Microsoft shares fall: what’s driving negative investor sentiment around MSFT stock?

Microsoft shares fall: what’s driving negative investor sentiment around MSFT stock? On January 29, 2026, Microsoft ($MSFT$) shares fell 6% despite beating earnings. Investors focused on record capital expenditure, which surged 66% to $37.5 billion. While revenue hit $81.3 billion, concerns grew over Azure’s slight growth dip to 38%. Additionally, a new disclosure revealed OpenAI accounts for 45% of Microsoft’s $625 billion backlog. This high concentration and rising AI costs are fueling fears over long-term profit margins.