Microsoft (MSFT) Sees 7% Drop with $678 Billion Backlog

Microsoft (MSFT) is down 7% year-to-date despite a 43% growth in Azure and a $678 billion commercial backlog, representing contracted revenue. Although shares fell 30% from a peak, they experienced a 15.51% jump after the recent earnings report. The consensus 12-month price target is $555.77, indicating potential upside of about 23%. Analyst sentiment remains largely positive, with 54 of 57 covering analysts rating the stock a Buy. This matters to ordinary investors as the backlog and growth in Azure highlight significant future revenue potential for Microsoft.