Stock Analysis | MSFT | November 1, 2026 MICROSOFT FY2027 Q1 — QUARTER ENDED SEPTEMBER 30, 2026 $92.3B Revenue +19% year over year 48% Azure growth Year over year $45.2B Capital expenditure Includes finance-lease commencements $18.6B Free cash flow After cash property and equipment spending Source: Microsoft's October 28, 2026 earnings release and conference call. Microsoft+1 Microsoft Spent $45 Billion on Infrastructure and Still Generated $18.6 Billion in Free Cash Flow Why Microsoft's latest earnings make the AI spending panic look a little premature—and why I'm still not writing a blank check to Satya Nadella. I've been watching Wall Street wrestle with artificial intelligence spending for what feels like an eternity, and I've come to one conclusion: investors have developed an extraordinary talent for demanding growth while simultaneously complaining about the money required to produce it. They want artificial intelligence to revolutionize the global economy. T...
STOCK ANALYSIS | TECHNOLOGY | ARTIFICIAL INTELLIGENCE Apparently, doubling your cloud business isn't enough anymore. Wall Street would also appreciate it if you stopped spending money like you're personally financing the construction of the Death Star. By Tony Hicks | October 31, 2026 | Approximately 3,000 words ALPHABET INC. — Q3 2026 AT A GLANCE $127.6B Revenue +25% year over year $30.7B Cloud revenue +103% year over year −$9.1B Free cash flow Negative for the quarter $51.4B Capital expenditures +114% year over year Source: Alphabet's October 28, 2026 earnings release and management commentary. SEC+2 Google Cloud Grew 103%—But Alphabet Burned $9 Billion and Search Missed Expectations Alphabet's AI revolution is producing spectacular growth. Unfortunately, the bill is arriving faster than the cash. There are certain moments in investing when I look at a company's financial results and wonder whether Wall Street has collectively lost its mind. Alphabet's third-q...