Microsoft shares traded near $546 intraday on October 13, 2026, up over 1% and approaching the $553.72 all-time high from late 2025, supported by sustained AI demand and Azure revenue growth of 43% year-over-year in the fiscal fourth quarter. The cloud segment exceeded $100 billion in annual revenue for the first time, while Microsoft 365 Copilot surpassed 30 million paid seats, driving commercial backlog to $678 billion. Elevated capital expenditures above $40 billion quarterly reflect ongoing AI infrastructure buildout, pressuring near-term margins but aligning with analyst consensus for continued 44-45% Azure expansion. Traders are monitoring the October 28 earnings release for updates on utilization and free cash flow trends amid the stock’s 13% year-to-date advance.