[2026년 07월 재분석] Microsoft $190 Billion AI Capex Bet: Why the Pullback to a 19x Forward P/E Signals 43% Upside
Microsoft (MSFT) reanalysis: after a $190B AI capex shock and OpenAI restructuring de-rated the stock to a 19.6x forward P/E, we see 43% upside to a $545 base target.