Microsoft (NASDAQ: MSFT) traded at $384.28, up after holding a double bottom at $349.51, with the 0.618 fib level at $376.90 confirming the bounce and RSI at 46.94. On April 29, the company reported total revenue of $82.9 billion (+18% year-over-year vs. consensus of $81.4 billion) and EPS of $4.27, up 5.2% above the $4.06 expectation for Q3 fiscal 2026. Azure grew 40% YoY, ahead of 39% consensus, and the AI business delivered an annualized revenue run rate of over $37 billion, up 123% YoY. The critical figure was commercial remaining performance obligations of $627 billion, up 99% YoY, representing a buffer of seven-and-a-half quarters of total revenue. The RPO increase came largely from multi-year Azure reservations and capacity pre-commitments, and Microsoft 365 Copilot commercial commitments with seat counts rising from 15 million in January to >20 million as of April 2026. CFO Amy Hood said during the Q3 call: “We expect [the capacity constraint] to remain at least through 2026,” noting demand continues to exceed supply. Microsoft Cloud revenue was $54.5 billion, up 29% year-over-year.