Wolfe Research Microsoft · MSFT

Wolfe Research Lowers Microsoft Price Target to $525

Analyst: Alex Zukin 1 min read Reproduced verbatim
Rating
Outperform
Target
$525
from $570 (−8%)
Outcome
Reached
on October 5, 2026
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What the analyst said

Wolfe Research revealed in a note on Monday that it has cut its price target on Microsoft to $525 from $570, pointing to surging memory prices that have forced the firm to raise its fiscal 2027 capital expenditure estimate to $270 billion from $230 billion, while maintaining its Outperform rating.

Analyst Alex Zukin told investors that recent memory price increases, including commentary from Micron’s latest earnings, led Wolfe to revise its already above-consensus capex estimates higher to account for rising component costs for AI infrastructure.

Disclaimer
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

MSFT trades at $536. The 28 analysts who set a target in the last 3 months range from $515 to $750, with a median of $630. This $525 target is 17% below the median.

Since the note MSFT has moved +37% (from $390). 12-month window: day 122 of 365, closes on July 6, 2027.

Track record

This call✓ Target reached on October 5, 2026, 3 months after the note.

Firm track recordWolfe Research: 91% of its 11 targets at least a year old were reached within 12 months. Accuracy ranking →

Wolfe Research on Microsoft

Wolfe Research price targets on Microsoft

3 calls from July 31, 2025 to July 30, 2026. The target went from $675 to $550 (−19%). The rating stayed Buy.

Wolfe Research targetMSFT share price
  1. July 30, 2026Target raised from $525 (+5%)Buy$550
  2. July 6, 2026 This noteTarget cut from $675 (−22%)Buy$525
  3. July 31, 2025Earliest call shownBuy$675
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Other analysts on Microsoft

BairdBuy Raised price target +20%, kept rating Oct 30 $600from $500 ArgusBuy Kept rating Oct 30 UBSBuy Raised price target +4%, kept rating Oct 29 $700from $675 TD CowenBuy Raised price target +4%, kept rating Oct 29 $650from $625 CantorBuy Raised price target +4%, kept rating Oct 29 $630from $608
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.