Azure Reaches $100 Billion Milestone Amid Microsoft Stock Slump

Microsoft's Azure platform has reached a significant milestone, surpassing $100 billion in annual sales for the first time. This disclosure was made during the company's earnings call for its fourth quarter of fiscal 2026, which ended June 30.

The news might have had more impact if it were not the first public revelation of Azure's revenues, but the company has announced plans to regularly report Azure revenue going forward.

Despite this achievement, Microsoft's stock has only made modest gains in 2026, raising questions about its value proposition. The company's P/E ratio exceeds those of its peers, with Alphabet trading at a significantly lower multiple of 17 and Amazon at 20.