Microsoft Stock Rebounds on Strong Cloud Revenue Growth

Microsoft's stock has rebounded significantly since its fiscal Q4 report, erasing its entire decline of over 25% year to date.

The company's cloud revenue continues to be a key driver, with a 27% year-over-year increase in fiscal Q4 and making up almost one-third of total sales.

Microsoft's cloud platform generated record activity, and the company has a $678 billion backlog for its cloud platform, more than 10 times the amount of revenue generated from cloud computing this quarter.