Microsoft's $392 Billion Cloud Backlog Could Be a Hidden Goldmine

Group 1 - Microsoft is competing with Apple to be the world's second-largest company, with a significant $392 billion backlog in cloud computing [1][4] - The artificial intelligence megatrend is just beginning, and Microsoft's stock has substantial growth potential if it can convert its backlog [2] - Azure, Microsoft's cloud platform, is experiencing remarkable growth, with a 51% year-over-year increase in backlog and 40% revenue growth in Q1 [4][5] Group 2 - Microsoft has a diverse range of business segments, with its Productivity and Business Processes division seeing a 17% year-over-year revenue increase to $33 billion [7] - The Intelligent Cloud division, which includes Azure, reported a revenue run rate of $30.9 billion, growing at a 28% year-over-year pace [7] - Despite strong performance, Microsoft shares are considered expensive [8]