Microsoft's stock rises 58% due to AI focus, Azure growth outpaces rivals, and KeyBanc assigns an overweight rating with a $490 price target.
Microsoft's stock surged 58% over the past year, driven by AI focus, and KeyBanc's analyst Jackson Ader assigns an overweight (buy) rating with a $490 price target, suggesting a 15% upside potential. Azure's growth outpaces rivals Google Cloud and AWS, indicating Microsoft gains cloud market share. Analysts forecast a 15% revenue growth in fiscal 2024, with 15% growth in the first half of fiscal 2024.
March 24, 2024
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