Morgan Stanley analyst Keith Weiss reiterated an Overweight rating on Microsoft Corp (NASDAQ:MSFT) with a price target of $415. The analyst highlighted that the MS 3Q23 CIO survey suggests stabilization in IT spending growth in the near term, with expectations for 2023 holding at +2.7% YoY sequentially. He also noted that Microsoft continues to align well with key AI themes and has the potential to monetize Generative AI across its broad portfolio. These factors, combined with a valuation still at a discount to peers, support Keith’s conviction in Microsoft as his Top Pick.