<p><strong>微軟</strong> (NASDAQ: MSFT) 的股票今年下跌了 20%，成為表現最差的 “七大巨頭” 公司。<strong>Roundhill Magnificent 7 ETF</strong>(MAGS) 幾乎沒有變化，而其他頂尖公司如 Alphabet、Nvidia 和 Amazon 的表現則是正面的。</p>
<p><img src="https://imageproxy.pbkrs.com/https://editorial-assets.benzinga.com/wp-content/uploads/2026/06/20115645/Microsoft-vs-MAGS-1024x567.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://editorial-assets.benzinga.com/wp-content/uploads/2026/06/20115645/Microsoft-vs-MAGS-1024x567.png"/></p>
<p><em>微軟股票與 Roundhill Magnificent 7 ETF (MAGS) 年初至今表現 | 來源：TradingView</em></p>
<p>微軟的股價從歷史高點下滑超過 30%，市值從 3.88 萬億美元降至 2.82 萬億美元。</p>
<h2>微軟股票因 AI 支出和 SaaSpocalypse 擔憂而下滑</h2>
<p>由於投資者對其數據中心支出和投資回報產生疑問，MSFT 一直處於強勁的下行趨勢。在最近的財報中，公司預測其資本支出將躍升至 1900 億美元，其中 250 億美元是由於成本上升所致。</p>
<p><strong>亞馬遜</strong> (NASDAQ: AMZN) 計劃支出 2000 億美元，而 <strong>Alphabet</strong> (NASDAQ: GOOG) 和 <strong>Meta Platforms</strong> (NASDAQ: META) 分別將支出 1900 億美元和 1250 億美元。總的來説，這四家公司預計今年將支出超過 7000 億美元。</p>
<p>投資者擔心公司可能需要數年才能實現可觀的投資回報。其今年計劃的資本支出比去年增加了 61%。</p>
<p><strong>另請閲讀：</strong>
<strong>傑米·戴蒙表示他今天會考慮財政部長職位——但他在特朗普將他排除在 2024 年外時的反應是無價的：‘我還沒有……’</strong></p>
<p>因此，人們擔心它可能會出售股票以籌集資金。Alphabet 最近籌集了 840 億美元，而 <strong>Nvidia</strong> (NASDAQ: NVDA) 籌集了 250 億美元。Meta Platforms 也在考慮籌集數十億美元的現金。</p>
<p>最近的財報顯示，微軟第一季度的收入增長了 13%。其個人計算收入下降了 1%，至 132 億美元，而其生產力和業務流程以及智能雲部門分別增長了 17% 和 30%。它現在預計其營業利潤率將從 46.3% 降至 44%。</p>
<p>人們還對 SaaSpocalypse 表達了擔憂，因為微軟是全球頂尖的軟件公司之一。SaaSpocalypse 是對軟件公司將被人工智能工具顛覆的日益擔憂。然而，這些擔憂可能被誇大了，因為微軟提供的關鍵軟件如 Office 將很難被顛覆。</p>
<p>與此同時，人們擔心其 Copilot 正在失去市場份額，面臨來自 ChatGPT 和 Anthropic 等快速增長工具的競爭。</p>
<h2>微軟有一些潛在的催化劑</h2>
<p>儘管微軟股票持續下滑，但它仍有一些顯著的催化劑。公司將受益於即將到來的 OpenAI 和 Anthropic IPO。微軟在 OpenAI 的持股價值超過 1250 億美元，IPO 後可能會大幅上漲。它還 投資了 50 億美元 於 Anthropic，該公司 計劃在今年上市。</p>
<p>MSFT 也變得高度低估，其前瞻市盈率降至 22。這一數字遠低於科技行業的中位數 32。其五年平均約為 33。</p>
<p>華爾街分析師對微軟也持樂觀態度。Cantor Fitzgerald 將股票目標價上調至 502 美元，而 TD Cowen、Barclays、Wells Fargo 和 Wedbush 將目標價提高至 500 美元以上。因此，分析師的平均目標價為 561 美元，比當前水平上漲了 47%。</p>
<p><strong>另請閲讀：</strong>
<strong>原油價格因伊朗關閉霍爾木茲海峽而上漲</strong></p>
<p><em>來源：Shutterstock</em></p>

微軟

微軟每日 1 倍做空 ETF - Direxion

2 倍做多 MSFT ETF - GraniteShares

MSFO

MSFX

微軟每日 2 倍做多 ETF - Direxion

ANTH

MSFW

MSFY

2 倍做多 MAG7 指數 ETF - Roundhill

<p>微軟是 2026 年表現最差的 “七大巨頭” 股票，年初至今下跌 20%。投資者擔心高額的人工智能資本支出（1900 億美元）和不確定的投資回報率，同時對 SaaSpocalypse 和 Copilot 失去市場份額感到憂慮。儘管面臨這些挑戰，分析師們仍然持樂觀態度，平均目標價為 561 美元，認為其被低估（前瞻市盈率為 22），並指出 OpenAI 和 Anthropic 上市可能帶來的收益</p>

<p><strong>Microsoft</strong> (NASDAQ: MSFT) stock has slumped by 20% this year, making it the worst-performing Magnificent 7 company. The <strong>Roundhill Magnificent 7 ETF</strong>(MAGS) is barely changed, while other top names like Alphabet, Nvidia and Amazon are positive for the year.</p>
<div class="lb-trans"><p><strong>微軟</strong> (NASDAQ: MSFT) 的股票今年下跌了 20%，成為表現最差的 “七大巨頭” 公司。<strong>Roundhill Magnificent 7 ETF</strong>(MAGS) 幾乎沒有變化，而其他頂尖公司如 Alphabet、Nvidia 和 Amazon 的表現則是正面的。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://editorial-assets.benzinga.com/wp-content/uploads/2026/06/20115645/Microsoft-vs-MAGS-1024x567.png" alt="" original-src="https://editorial-assets.benzinga.com/wp-content/uploads/2026/06/20115645/Microsoft-vs-MAGS-1024x567.png"/></p>
<p><em>Microsoft stock vs the Roundhill Magnificent 7 ETF (MAGS) YTD performance | Source: TradingView</em></p>
<div class="lb-trans"><p><em>微軟股票與 Roundhill Magnificent 7 ETF (MAGS) 年初至今表現 | 來源：TradingView</em></p>
</div><p>Microsoft has slipped by over 30% from its all-time high, with its valuation slumping from $3.88 trillion to $2.82 trillion.</p>
<div class="lb-trans"><p>微軟的股價從歷史高點下滑超過 30%，市值從 3.88 萬億美元降至 2.82 萬億美元。</p>
</div><h2>Microsoft Stock Has Slumped as AI Spending and SaaSpocalypse Concerns</h2>
<div class="lb-trans"><h2>微軟股票因 AI 支出和 SaaSpocalypse 擔憂而下滑</h2>
</div><p>MSFT has been in a strong downtrend as investors question its data center spending and the returns on investment. In its recent earnings report, the company predicted that its capital expenditure will jump to $190 billion this year, with $25 billion of this being because of higher costs.</p>
<div class="lb-trans"><p>由於投資者對其數據中心支出和投資回報產生疑問，MSFT 一直處於強勁的下行趨勢。在最近的財報中，公司預測其資本支出將躍升至 1900 億美元，其中 250 億美元是由於成本上升所致。</p>
</div><p><strong>Amazon</strong> (NASDAQ: AMZN) plans to spend $200 billion, while <strong>Alphabet</strong> (NASDAQ: GOOG) and <strong>Meta Platforms</strong> (NASDAQ: META) will spend $190 billion and $125 billion, respectively. In total, these four companies are expected to spend over $700 billion this year.</p>
<div class="lb-trans"><p><strong>亞馬遜</strong> (NASDAQ: AMZN) 計劃支出 2000 億美元，而 <strong>Alphabet</strong> (NASDAQ: GOOG) 和 <strong>Meta Platforms</strong> (NASDAQ: META) 分別將支出 1900 億美元和 1250 億美元。總的來説，這四家公司預計今年將支出超過 7000 億美元。</p>
</div><p>Investors are concerned that it will take years for the company to achieve a substantial return on investment. Its planned capital expenditure for the year is 61% higher than what it made last year.</p>
<div class="lb-trans"><p>投資者擔心公司可能需要數年才能實現可觀的投資回報。其今年計劃的資本支出比去年增加了 61%。</p>
</div><p><strong>Read Also:</strong>
<strong>Jamie Dimon Says He'd Consider Treasury Secretary Role Today— But His Response When Trump Ruled Him Out In 2024 Was Priceless: 'I Haven't Had…'</strong></p>
<div class="lb-trans"><p><strong>另請閲讀：</strong>
<strong>傑米·戴蒙表示他今天會考慮財政部長職位——但他在特朗普將他排除在 2024 年外時的反應是無價的：‘我還沒有……’</strong></p>
</div><p>As such, there are concerns that it might sell shares to raise capital. Alphabet recently raised $84 billion, while <strong>Nvidia</strong> (NASDAQ: NVDA) raised $25 billion. Meta Platforms is also considering raising billions of dollars in cash.</p>
<div class="lb-trans"><p>因此，人們擔心它可能會出售股票以籌集資金。Alphabet 最近籌集了 840 億美元，而 <strong>Nvidia</strong> (NASDAQ: NVDA) 籌集了 250 億美元。Meta Platforms 也在考慮籌集數十億美元的現金。</p>
</div><p>The most recent results showed that Microsoft’s revenue rose by 13% in the first quarter. Its personal computing revenue slowed by 1% to $13.2 billion, while its productivity and business processes, and intelligent cloud divisions rose by 17% and 30%, respectively. It now expects that its operating margin will drop to 44% from 46.3%.</p>
<div class="lb-trans"><p>最近的財報顯示，微軟第一季度的收入增長了 13%。其個人計算收入下降了 1%，至 132 億美元，而其生產力和業務流程以及智能雲部門分別增長了 17% 和 30%。它現在預計其營業利潤率將從 46.3% 降至 44%。</p>
</div><p>There are also concerns about SaaSpocalypse because Microsoft is one of the top software companies in the world. SaaSpocalypse is the rising fear that software companies will be disrupted by artificial intelligence tools. These fears, however, are likely overblown as Microsoft provides critical software like Office that will be hard to disrupt.</p>
<div class="lb-trans"><p>人們還對 SaaSpocalypse 表達了擔憂，因為微軟是全球頂尖的軟件公司之一。SaaSpocalypse 是對軟件公司將被人工智能工具顛覆的日益擔憂。然而，這些擔憂可能被誇大了，因為微軟提供的關鍵軟件如 Office 將很難被顛覆。</p>
</div><p>At the same time, there are concerns that its Copilot is losing market share to other fast-growing tools like ChatGPT and Anthropic.</p>
<div class="lb-trans"><p>與此同時，人們擔心其 Copilot 正在失去市場份額，面臨來自 ChatGPT 和 Anthropic 等快速增長工具的競爭。</p>
</div><h2>Microsoft Has Some Potential Catalysts</h2>
<div class="lb-trans"><h2>微軟有一些潛在的催化劑</h2>
</div><p>Despite the ongoing Microsoft stock retreat, it has some notable catalysts ahead. The company will benefit from the upcoming OpenAI and Anthropic IPOs. Microsoft owns a position worth over $125 billion in OpenAI, which may jump sharply after its IPO. It also invested $5 billion in Anthropic, which plans to go public this year.</p>
<div class="lb-trans"><p>儘管微軟股票持續下滑，但它仍有一些顯著的催化劑。公司將受益於即將到來的 OpenAI 和 Anthropic IPO。微軟在 OpenAI 的持股價值超過 1250 億美元，IPO 後可能會大幅上漲。它還 投資了 50 億美元 於 Anthropic，該公司 計劃在今年上市。</p>
</div><p>MSFT has also become highly undervalued, with its forward price-to-earnings falling to 22. This number is much smaller than the technology sector median of 32. Its five-year average was about 33.</p>
<div class="lb-trans"><p>MSFT 也變得高度低估，其前瞻市盈率降至 22。這一數字遠低於科技行業的中位數 32。其五年平均約為 33。</p>
</div><p>Wall Street analysts are also bullish on Microsoft. Cantor Fitzgerald boosted the stock target to $502, while TD Cowen, Barclays, Wells Fargo, and Wedbush hiked the targets to over $500. As a result, the average analyst’s target among analysts is $561, up by 47% from the current level.</p>
<div class="lb-trans"><p>華爾街分析師對微軟也持樂觀態度。Cantor Fitzgerald 將股票目標價上調至 502 美元，而 TD Cowen、Barclays、Wells Fargo 和 Wedbush 將目標價提高至 500 美元以上。因此，分析師的平均目標價為 561 美元，比當前水平上漲了 47%。</p>
</div><p><strong>Read Also:</strong>
<strong>Crude Oil Price Pops As Iran Closes Strait Of Hormuz</strong></p>
<div class="lb-trans"><p><strong>另請閲讀：</strong>
<strong>原油價格因伊朗關閉霍爾木茲海峽而上漲</strong></p>
</div><p><em>Source: Shutterstock</em></p>
<div class="lb-trans"><p><em>來源：Shutterstock</em></p>
</div>

Microsoft Is the Worst-Performing Mag 7 Stock in 2026: Here’s Why

- 微軟股票今年下跌 20%，成為表現最差的 Magnificent 7 公司。  
- 市場對其數據中心支出及投資回報表示質疑，預計資本支出將達 1900 億美元。  
- 儘管如此，分析師仍對微軟持樂觀態度，目標價普遍超過 500 美元。

微軟是 2026 年表現最差的 Mag 7 股票：以下是原因