Bernstein analyst thinks Microsoft’s Azure ‘could become a bigger and more important hyperscale provider than AWS’
Against a choppy economic backdrop for the broader software industry, Microsoft Corp. is still thriving.
In his view, “Microsoft is such a strong company to own because it has multiple legs to stand on.” The company “succeeded in firing up Cloud and AI growth engines” to stand out against peers suffering from consumption issues, he wrote, while maintaining an outperform rating and boosting his price target to $406 from $400.
He commented that AI tailwinds for Azure “outsized continued optimization headwinds,” while Microsoft’s commentary on AI trends pointed to “real demand, which should sustain double-digit growth.”
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