Wedbush's Dan Ives Lauds Microsoft's 'Masterpiece Quarter,' Says CEO Nadella's Guidance 'Should Be Hung In The Louvre'
Portfolio Pulse from Shanthi Rexaline
Wedbush analyst Daniel Ives praised Microsoft's fiscal year 2024 second-quarter results, calling it a 'masterpiece quarter' and commended CEO Satya Nadella's guidance. Ives maintained an Outperform rating and a $450 price target for Microsoft. The results were attributed to Microsoft's AI investments, particularly noting the demand for Copilot and a 30% increase in Azure's revenue. Ives expects the results to impact the tech industry and sees AI as a major monetization opportunity for Microsoft.
January 31, 2024 | 7:38 am
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POSITIVE IMPACT
Microsoft's strong Q2 results, driven by AI investments and Azure growth, received high praise from Wedbush analyst Daniel Ives, who maintained an Outperform rating and a $450 price target.
The positive remarks from a respected analyst like Daniel Ives, along with the better-than-expected earnings and revenue growth driven by AI and Azure, are likely to instill confidence in investors and could lead to a short-term positive impact on Microsoft's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100