Microsoft (MSFT) risk factors: FY2026 10-K

Item 1A of the 10-K for the period ending 2026-06-30, filed 2026-07-29. 21 risk factor headings as filed. Read Item 1A in full · The whole 10-K · What changed since FY2025

9new since FY2025
1reworded
1removed
11unchanged

Headings mentioning a theme: Tariffs 0 · AI 0 · Cybersecurity 0 · China 0 · Interest rates 0. Compare across the S&P 500.

Risk factors

5
  1. Security of our products, services, devices, and customers’ datanew
  2. Development and deployment of defensive measuresnew
  3. Disclosure and misuse of personal data could result in liability and harm our reputation.new
  4. Abuse of our platforms may harm our reputation or user engagement.new
  5. Advertising, professional, marketplace, and gaming platform abusesnew

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Other digital safety abuses

7
  1. Our products and services, how they are used by customers, and how third-party products and services interact with them, may present security, privacy, and execution risks.new
  2. We may be unable to develop and expand adequate infrastructure.new
  3. We may experience supply problems.reworded
  4. We may experience outages, disruptions, or capacity constraints if we fail to maintain and operate adequate infrastructure or secure the resources necessary to support it.new
  5. We may experience other quality problems.new
  6. We are subject to a variety of new, existing, and evolving legal and regulatory requirements that could adversely affect our results of operations.
  7. Competition laws and new market regulation

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Environmental, Social, and Governance

9
  1. We have claims and lawsuits against us that may result in adverse outcomes.
  2. Our business with government customers may present additional uncertainties.
  3. We may have additional tax liabilities.
  4. We face risks related to the protection and utilization of our intellectual property that may result in our business and operating results being harmed.
  5. Third parties may claim that we infringe their intellectual property.
  6. Adverse economic or market conditions could harm our business.
  7. Catastrophic events or geopolitical conditions could disrupt our business.
  8. Our global business exposes us to operational and economic risks.
  9. Our business depends on our ability to attract and retain talented employees.

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No longer in Item 1A

1

Headings in the FY2025 10-K with no match this year.

  1. We may have excessive outages, data losses, and disruptions of our online services if we fail to maintain an adequate operations infrastructure.

Headings are the lines of Item 1A set wholly in bold or italics, as the parser reads them, without the introductory paragraph that opens the section. A heading is new when no heading in the prior 10-K matches it after ignoring case and punctuation, and reworded when it shares at least 60 percent of its words with one that went away. Source: the filing on sec.gov.