Microsoft Stock ( NASDAQ:MSFT )
Wedbush Securities, an investment company, said in a research note that it published on Tuesday that their checks into the cloud computing segment of Microsoft ( NASDAQ:MSFT ) were “steady” and that growth moving into the new year was “better than anticipated.”
Citing recent interactions with clients and partners, analyst Dan Ives, who recommends outperforming Microsoft stock, observed that growth for Azure, Microsoft’s cloud arm, was more solid than some negative critics have suggested.
“While Azure growth has certainly decelerated in the field,” Ives said in a letter to clients for Microsoft, “we expect MSFT should be able to meet its 37% Azure growth goal (constant currency) in the December quarter when Redmond releases results in late January.”
Ives noted that at least 90% of significant deal activity for Azure and Office 365 is “still on track” after meeting with partners of Microsoft (MSFT) and that any slowdown or push-out is expected to be “small” in scale. This was his assessment after speaking with partners of Microsoft.
There is a possibility of some give and take, as transactions in the financial sector may begin to be scaled down due to data center projects being slowed down or delayed, while government transactions are seeing the reverse trend. Ives said that companies such as Microsoft, Amazon, Google ( NASDAQ:GOOG ) ( NASDAQ:GOOG L), Oracle, and IBM are still seeing a “surge” of deal activity from Wa...
Click here to read the full article on PressReach.com .Subscribe to the PressReach RSS feeds:
- Featured News RSS feed
- Investing News RSS feed
- Daily Press Releases RSS feed
- Trading Tips RSS feed
- Investing Videos RSS feed
Follow PressReach on Twitter
Follow PressReach on TikTok
Follow PressReach on Instagram
Subscribe to us on Youtube