Microsoft's stock soars after strong earnings, but it remains unlikely to be the largest company by market cap on August 31 at 0.2% YES.

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'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.