Microsoft Stock Soars on Azure Rally

Microsoft's stock surged 4.9% in Monday's trading session as its cloud computing platform, Azure, continued to outperform expectations.

The company's shares have now advanced by approximately 23% over three sessions, their strongest such performance since October 2000, according to MarketWatch.

This rally comes after Microsoft's fiscal fourth-quarter results and cloud outlook exceeded analyst forecasts, with the company reporting a 27% increase in Microsoft Cloud revenue to $59.3 billion.

Azure revenue jumped 43%, surpassing analysts' estimated growth rate of approximately 40.4%.