Microsoft Surges to Record High as Wall Street Cheers the Cloud [Bloomberg Business News]
Amazon.com, Inc. (AMZN)
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Source: Bloomberg Business News
LISTEN TO ARTICLE 3:40 Microsoft Corp.’s foray into cloud technologies is paying off after revenue for the fiscal fourth quarter bested the highest of analysts’ estimates. Thanks to the growing adoption of Microsoft’s cloud offering, Wall Street is rewarding the Redmond, Washington-based software provider with buy reiterations and price target increases. Goldman Sachs, while boosting its price target to $125 from $114, said the company’s bring-your-own-licence program is “starting to bear fruit.” Jefferies, on the other hand, one of the two bears with the equivalent of sell ratings tracked by Bloomberg, questioned the ultimate margins of Microsoft’s cloud computing service known as Azure. Nonetheless, company shares opened up 3.5 percent, setting a new record high above $108. Here’s what Wall Street is saying: Goldman Sachs, Heather Bellini The tech provider’s fourth-quarter earnings were strong across the board; and Micr
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