It’s no rocket ship ride for Microsoft’s (MSFT) stock.

AlphaSpace intel: While SpaceX made a sizzling debut in public markets, Microsoft’s stock has remained stuck in the mud. Microsoft shares have traded below the key 200-day moving average for all of 2026, according to Yahoo Finance AlphaSpace. The stock is down 19% year to date, compared with a 10% gain for the S&P 500 (^GSPC).

At one point after Monday’s close, SpaceX shares climbed as high as $229.40, briefly suggesting a valuation above $3 trillion. Microsoft’s market cap at the time was around $2.9 trillion.

The analysis: Hesitance to buy the dip in Microsoft’s stock stems from several concerns.

Microsoft’s $190 billion capital expenditures plan for 2026 is a…