The Cloud Titans: Microsoft’s Copilot Backlog Challenges Amazon’s Data Center Re-Acceleration

Quick Read

• Azure grew 48% and Microsoft’s CFO confirmed “We still have demand that exceeds supply,” with a $677 billion commercial backlog fueling the bull case.

• 53 of 55 analysts rate MSFT a Buy, targeting $605, while Amazon carries roughly 30% implied upside from its current price.

• Microsoft’s $170 billion capex plan pushed fiscal 2026 free cash flow down 6.5% and cloud gross margins to 66%.

• Just released. Our analysts combed the entire stock market and named the ten best stocks to buy right now, and Microsoft didn’t make the cut. Enter your email to see the names that beat MSFT. The report is free. Enter your email and see if any of your stocks made the cut.

Microsoft (NASDAQ:MSFT) trades at $531.01, and its latest quarter showed a large signed backlog changing into accelerating Azure revenue just as investors compare it with Amazon’s cloud revival.

Microsoft sells Azure…