Microsoft stock has a premium valuation but without the performance.Microsoft (MSFT 0.73%) stock just did something that should be a warning sign for investors. It recently reported its first-quarter fiscal year 2025 (ending Sept. 30) results, and the stock dropped despite beating expectations. That's never a good sign, and whenever you see it, it should prompt you to investigate further. While a stock dropping after beating expectations is never good, there's another warning sign Microsoft is exhibiting, a ...