Microsoft shares have traded near $509 following a sharp rebound from June lows, fueled by fiscal 2026 results showing 18% revenue growth to $331.8 billion and Azure expanding 43% year-over-year with $100 billion-plus annual run-rate. The late-September Copilot revamp, adding enterprise agentic features and coding tools, lifted the stock to a $516.17 close on September 25 before profit-taking and Meta’s competing AI enterprise push triggered a pullback. With shares at roughly 28–29 times trailing earnings and heavy capex weighing on free cash flow, trader-implied odds cluster tightly around the $500–520 range ahead of October 28 earnings and ongoing AI infrastructure spending scrutiny.