Microsoft Corp. $MSFT is once again approaching its peak valuation, reversing months of stagnation. The renewed momentum is tied directly to the strengthened performance of its Azure cloud division. Following a prolonged period of limited gains, Microsoft shares now sit just 1.5% below their record set in July 2024. This recovery aligns with a broader upswing in major US equity indices such as the S&P 500 $^SPX and Nasdaq 100 $^NDX, reflecting investor confidence in the technology sector.