1 Magnificent AI Stock to Buy Before It Is Worth $3 Trillion
(NASDAQ: MSFT) stock has been under pressure since the technology giant released its fiscal 2023 fourth-quarter results (for the quarter ended June 30) on July 25, driven mainly by concerns regarding the momentum of its cloud business.
Though Microsoft's revenue and earnings rose year over year and landed ahead of Wall Street's expectations, the 26% year-over-year growth in the Azure cloud services division was a tad slower than the 27% revenue growth this segment recorded in the fiscal third quarter. Given that cloud computing is Microsoft's fastest-growing business, any sign of a slowdown in this segment isn't going to sit well with investors.
It is worth noting that the growth rate of Azure and other cloud services decelerated from 40% in the fourth quarter of fiscal 2023. Also, sales of the company's server products and other cloud services fell to 17% last quarter from the 22% year-over-year growth in this segment in the year-ago period.
Source Fool.com
Microsoft Corp. Stock
The stock is one of the favorites of our community with 106 Buy predictions and 3 Sell predictions.
With a target price of 458 € there is a slightly positive potential of 13.83% for Microsoft Corp. compared to the current price of 402.35 €.
