Microsoft Corp

MSFT: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Microsoft Earnings: We Think Investors Should Be on Board When Azure Accelerates in the Third Quarter

Dan Romanoff

Oct 31, 2024

We are maintaining our fair value estimate for wide-moat Microsoft at $490 per share after the firm reported good results but offered guidance that is mixed versus our expectations. The outlook generally offsets quarterly strength, which holds our fair value in check. Performance looks good from any angle, with impressive artificial intelligence demand and monetization. With shares down slightly after hours following a recent pullback, we see the stock as attractive, and we think accelerating Azure revenue will propel the stock upward over the next year.

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Microsoft Corp

Microsoft Earnings: We Think Investors Should Be on Board When Azure Accelerates in the Third Quarter

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