Microsoft closed at a market capitalization of $4.02 trillion on October 12, 2026, its first sustained stay above that line since late October 2025. The stock rebounded more than 50% from its June 2026 lows, driven by Azure’s 43% year-over-year revenue growth. The backlog for cloud and AI contracts reached $678 billion, up 84%, demonstrating real enterprise commitment to AI infrastructure. Microsoft now ranks as the fourth largest US company by market capitalization, behind Nvidia, Apple, and Amazon.
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