Weekend Intelligence: Microsoft Adds Record 450 Billion in a Single Day
A single trading day was enough for Microsoft, after revenues of USD 90.0 bn and 43% Azure growth, to add almost USD 450 bn in market value – the most in history, surpassing Nvidia's record from April 2025 (USD 441 bn). The week had actually started cautiously: on Monday the Dow added 0.51% to 52,210.08 points, while ASML shares in Amsterdam lost 8.4% on news of China making its own DUV lithography machines, and the Stoxx 600 technology index fell 1.7%. The Fed then, on 29 July, left rates in the 3.5–3.75% band, but by a 9‑3 vote – the last time three dissents all in the same direction occurred was in September 2016. It ended in a split market: Microsoft and Amazon showed accelerating cloud, Meta wrote off about 10%, and Apple compressed its margin outlook to 47–48%, all against a 30‑year yield of 5.21%.
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The AI market split: Microsoft adds USD 450 bn in a day, Meta and Apple foot the bill
The hyperscaler earnings season split the market into two camps. Microsoft reported revenue of USD 90.0 bn (+18%) for the quarter ending June and Azure growth of 43%; the stock closed more than 15% higher and the company added almost USD 450 bn in market value in a single day – the most in history, above Nvidia's record from April 2025 (USD 441 bn). In the same week, Meta lost about 10%.
It was not the level of spending that decided, but its readability. Microsoft confirmed capex of USD 50 bn for the first fiscal quarter and USD 175 bn for calendar 2026 – less than the earlier roughly USD 190 bn. Azure is expected to grow 45% in constant currency in the current quarter against a 40.92% consensus (Visible Alpha). Faster revenues and lower investments than Wall Street had modelled is a combination the market did not expect.