Missing Graphics in Microsoft Word

There's a few reasons this can occur. I've listed them from most likely to least likely.

You're not in the right view.

For best results, from the menu choose View Print Layout.

You're not viewing graphics.

Tools Options, View tab. Make sure Drawings is checked. Make sure Picture placeholders is not checked.

Your machine is hurting for resources.

Sometimes, restarting your PC resolves this issue. Other times, we need to clean up our hard drives.

Here is Microsoft's Technet article regarding this issue.

It's a Graphics Card Thing.

This issue doesn't affect every brand and model. To fix, go to Control Panel Display Settings Advanced Troubleshoot, and lower your hardware acceleration. Results may vary.