Microsoft's fiscal 2026 third-quarter earnings, released April 29, delivered revenue of $82.9 billion—beating estimates by $1.5 billion—and adjusted EPS of $4.27 versus $4.06 expected, propelled by 18% Microsoft Cloud growth and surging Azure AI demand. Yet shares tumbled over 4% to around $405 on April 30, pressured by guidance for $190 billion in full-year capital expenditures, more than double prior plans, amid soaring memory chip costs that could squeeze margins. Traders balance robust fundamentals and analyst consensus targets near $557 against capex risks and macroeconomic headwinds like Treasury yields and Fed rate path expectations. With April ending today, end-month closing price will resolve price bin outcomes, ahead of Q4 earnings in late July.