Microsoft's Sum-of-the-Parts Value Pegged Near $3.8 Trillion

A sum-of-the-parts analysis valuing Microsoft by individual business segment pegs its worth at roughly $3.5 trillion to $3.8 trillion, or about $500 per share, well above its current enterprise value of around $2.9 trillion. The estimate values Microsoft's cloud (Azure), software (Microsoft 365 and others) and remaining businesses separately, deriving an "intrinsic value" that factors in long-term returns on AI infrastructure spending. At the time of the analysis, the stock traded at roughly $384 to $390, with market capitalization near $2.90 trillion, leaving a wide gap versus the estimate.