Microsoft's Azure to Sustain Strong Growth, Truist Says

MT Newswires Live07-23 03:05

Microsoft's (MSFT) Azure is likely to sustain strong long-term growth, while artificial intelligence revenue gradually rises with the increasing adoption of Copilot, Truist Securities said in a note Wednesday.

The brokerage said it expects a solid Q4 and accompanying outlook and added that broader industry dynamics will continue to result in a sustained supply-demand imbalance, and thus, it expects "Azure growth remaining at a consistently strong level for the foreseeable future."

"A variety of factors could turn the tide on negative investor sentiment on high capex dynamics at least in the case of Microsoft," Truist said.

Truist maintained a buy rating with a $575 price target.

Price: 388.65, Change: -9.10, Percent Change: -2.29

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
1
1