Microsoft missed Wall Street estimates for Azure cloud-computing service growth, causing its shares to drop 7% and triggering a broader tech sell-off. The company's revenue from its Intelligent Cloud unit rose to $28.5 billion, below the expected $28.68 billion, despite a 29% increase in Azure revenue. Additionally, Microsoft experienced a significant global outage on July 30, affecting multiple Azure and Microsoft 365 services, including Outlook, Word, and Excel. The outage, caused by an unexpected usage surge, also disrupted services like Starbucks' mobile ordering and Xbox Live. This incident follows a previous major outage less than two weeks ago linked to a faulty update from cybersecurity firm CrowdStrike. Microsoft is working to resolve the ongoing issues but has not yet provided a full explanation for the latest outage.