Microsoft's Azure revenue surpassed $100 billion in FY26, but market sees Apple at 56.5% YES to be largest company by market cap on August 31.

Microsoft’s Azure grew 43% and passed $100bn for the year, its backlog hit $678bn, and the stock rose 2%. But AI capital spending keeps climbing.

Microsoft beat fiscal Q3 estimates with $82.9B revenue and $4.27 EPS as its AI business hit a $37B run rate and signed a $9.7B deal with bitcoin