3 Reasons Microsoft Is Not Done Growing
Software giant Microsoft (NASDAQ: MSFT) is essentially the landlord of technology: Much of the world's tech depends on its systems for a place to live and work. While Microsoft is a long-standing blue-chip stock, it also has quite a few exciting prospects for growth investors.
Despite the company's 19% revenue growth and 44% net income growth in the third quarter of fiscal year 2021, the stock has fallen about 5% since it reported those results in late April. Looking to the company's future prospects, this short-term dip shouldn't stop you from considering Microsoft for your portfolio.
In 2019, Microsoft won a contract with the U.S. Defense Department to provide services to the Pentagon through its cloud computing business, Azure. Microsoft beat out Amazon's (NASDAQ: AMZN) AWS for the $10 billion deal, signaling that Azure is gaining on AWS as a market leader in the space.
Source Fool.com
