Microsoft Bets Big on AI Laptops with Nvidia as Cloud Profits Soar and Shares Tumble
12.06.2026 - 03:13:36 | boerse-global.de
Microsoft is doubling down on hardware through a fresh alliance with Nvidia, even as the PC side of its business drags on an otherwise stellar quarterly performance. The software giant unveiled the "RTX Spark" processor at Computex, a custom AI chip built on Arm architecture in partnership with MediaTek, designed to run personal assistants directly on laptops. The first device to feature the chip will be the new "Surface Laptop Ultra," boasting up to 128 gigabytes of memory, with ASUS, Dell, and Lenovo also planning compatible models for the autumn launch window.
The hardware offensive comes amid persistent weakness in Microsoft’s More Personal Computing segment, where Windows licensing and device sales shrank 2% in the latest quarter. That decline contrasts sharply with the broader group’s performance: revenue jumped 18% to nearly $83 billion, while net income hit $31.8 billion, delivering double-digit earnings growth. Cloud remains the primary engine, with the Microsoft Cloud unit alone contributing $54.5 billion in revenue.
Management continues to reward shareholders even as the stock struggles. The board declared a regular quarterly dividend of $0.91 per share, with the ex-dividend date set for August 20, 2026, and payment due September 10. Combined with share buybacks, Microsoft returned over $10 billion to investors during the same period.
Should investors sell immediately? Or is it worth buying Microsoft?
Yet the market remains unimpressed. The shares closed at €336.95 on Thursday, extending a year-to-date decline of roughly 16% (a slightly sharper 17% in other recent sessions). The stock now trades nearly 30% below its 52-week high of over €478 reached in October 2025. Both the 200-day moving average, currently at about €389, and the €389.51 level cited in technical analysis lie more than 14% above the current price, underscoring a deeply bearish chart pattern.
The disconnect between record profits and falling share price is stark. While the AI-driven cloud business fires on all cylinders, investors have greeted the hardware push with skepticism. The success of the new AI laptops will depend on concrete sales numbers in the next earnings report. If the More Personal Computing division fails to reverse its slide, the Computex announcements risk being dismissed as marketing without substance.
For now, Microsoft offers a strong fundamental story underpinned by massive cash generation and a reliable dividend. But until the stock reclaims its 200-day line, the technical picture remains distinctly weak, leaving the company’s operational strength at odds with a market that wants proof the hardware renaissance is real.
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