Microsoft’s “Azure and other cloud services” revenue grew 40% last quarter, with demand exceeding supply. Commercial backlog soared, driven primarily by Azure commitments. Capital expenditures were $34.9 billion last quarter, with spending expected to rise sequentially. Demand for Azure is surging, with AI-capable cloud computing driving growth. Microsoft’s RPOs increased over 50% to nearly $400 billion, reflecting high demand for cloud services. AI spending is soaring, as Microsoft invests in infrastructure and product features. Microsoft’s Azure demand exceeds supply, with revenue growth expected at 37% in constant currency for fiscal Q2. Should you buy stock in Microsoft now? While Azure growth looks strong, high spending could impact profitability. Microsoft’s stock has a P/E ratio of about 33, suggesting caution before buying. The Motley Fool’s Stock Advisor team identified 10 best stocks to buy now, with Microsoft not included. Their total average return is 949%, outperforming the S&P 500. 1. The stock market experienced a record-breaking day, with the S&P 500 reaching an all-time high of 4,500 points. Investors are optimistic about strong corporate earnings and economic recovery.

2. A new study found that nearly 60% of Americans have less than $1,000 in savings, highlighting the financial struggles faced by many households. Experts urge people to prioritize saving and emergency funds.

3. The Biden administration announced a plan to invest $2 billion in developing offshore wind farms, aiming to create jobs and reduce reliance on fossil fuels. The initiative is part of the administration’s push for clean energy solutions.

4. The Delta variant of COVID-19 continues to spread rapidly, leading to a surge in cases and hospitalizations across the country. Health officials are urging unvaccinated individuals to get vaccinated and follow safety guidelines to prevent further spread.

Read more at Nasdaq: Microsoft Stock Is Down More Than 10% In 3 Months. Time to Buy the Dip?