Microsoft Stock at Pivotal Setup Amid Azure Growth, Capex Cycle Concern

Microsoft (NASDAQ:MSFT) is at a pivotal setup for investors. The company's Azure growth, $678 billion contracted backlog, and capex cycle are making headlines.

Azure crossed $100 billion in annual revenue for the first time while full-year capex ballooned to $115.95 billion, up 79.62% year over year.

Microsoft shares have drifted lower through the fiscal year despite results beating estimates, leaving MSFT trailing the broad market by roughly 900 basis points YTD.