Satya Nadella’s Microsoft Now Has a $678 Billion Sales Backlog, Up 84% Year Over Year, After Azure Topped $100 Billion in Annual Revenue. Does That Growth Justify the Stock’s Forward P/E of 25?
Key Points A $678 billion sales backlog shows that Microsoft Cloud will remain a major part of the business. Artificial intelligence tailwinds are poised to continue for multiple years, giving cloud revenue a vast runway for growth. Microsoft shares have underperformed the S&P 500 in …