Trump Tariffs and …. How Microsoft is the biggest winner this earnings season for Big Tech

Microsoft Corp. shares are within 1.5% of their all-time high from July 2024, driven by a robust 16% gain in May 2025, the stock’s best monthly performance in over three years, according to Bloomberg. The rally reflects a broader U.S. equity rebound and renewed confidence in Microsoft’s Azure cloud-computing business, fueled by strong artificial intelligence (AI) demand. Azure’s fiscal third-quarter revenue grew 33%, surpassing Wall Street expectations, with non-AI services like databases and storage outperforming, as noted by CFO Amy Hood.

The stock’s resurgence contrasts with its 2024 performance, when Microsoft lagged behind the “Magnificent Seven” peers — Apple, Nvidia, Alphabet, Amazon, Meta, and Tesla — with a 12% gain, weighed down by concerns over Azure growth and AI competition.