The beleaguered tech stock briefly fell below $350 per share after trading above $553 per share less than one year ago. The tech leader looked extremely undervalued before earnings as investors ignored the company's history of high revenue growth, potentially in favor of hotter artificial intelligence (AI) stocks. Now that Microsoft is back on investors' radars, it's worth assessing if the stock is still undervalued. LinkedIn, search advertising, and Microsoft 365 Consumer revenue all had double-digit year-over-year growth rates. Even though Microsoft rallied after its earnings (it jumped about 25%), the stock still looks undervalued.