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Stock Analyst Update

Our take on the latest news affecting the market's biggest stocks.


While SMB generally remains weak, Azure remains strong, and gaming revenues surged as the global lockdowns continued throughout the quarter. Importantly, commercial bookings and RPO, two forward looking metrics, both grew in excess of revenues for the quarter. We remain impressed with Microsoft's ability to drive revenue and margins at this scale and we believe there is more to come on both the revenue and margin fronts. We raise our fair value estimate to $228 from $196 per share.