tl;dr
Microsoft Q3 Earnings Preview Microsoft (NASDAQ:MSFT) is set to release its third-quarter earnings results, offering insights into the adoption of the AI revolution, as anticipated by Wedbush analysts. The bank projects a 30% growth for Microsoft's Azure cloud in the quarter, contributing to a 1% in...
Microsoft Q3 Earnings Preview Microsoft (NASDAQ:MSFT) is set to release its third-quarter earnings results, offering insights into the adoption of the AI revolution, as anticipated by Wedbush analysts. The bank projects a 30% growth for Microsoft's Azure cloud in the quarter, contributing to a 1% increase in early market trading on Tuesday. Wedbush analysts, including Daniel Ives, liken this moment to Microsoft's 'iPhone Moment,' foreseeing AI's impact on cloud growth in the coming years. Maintaining an Outperform rating and a 12-month price target of $500, Wedbush includes Microsoft in its "Best Ideas" list, highlighting the company's position in the AI Revolution. Anticipating an increase in AI utilization, particularly generative AI and Copilot, Wedbush expects a surge in Azure cloud deals, with AI use cases set to proliferate across the enterprise landscape over the next six to 12 months. Additionally, ChatGPT and AI are predicted to drive new layers of growth for Microsoft. Microsoft's third-quarter results for fiscal year 2024 will be disclosed after markets close on Thursday, with analysts forecasting earnings per share of $2.84 on $60.89B in revenue.
More about Microsoft Corporation
Company: Microsoft Corporation
Description: Microsoft Corporation is an American multinational technology company which produces computer software, consumer electronics, personal computers, and related services. Its best known software products are the Microsoft Windows line of operating systems, the Microsoft Office suite, and the Internet Explorer and Edge web browsers. Its flagship hardware products are the Xbox video game consoles and the Microsoft Surface lineup of touchscreen personal computers. Microsoft ranked No. 21 in the 2020 Fortune 500 rankings of the largest United States corporations by total revenue; it was the world's largest software maker by revenue as of 2016. It is considered one of the Big Five companies in the U.S. information technology industry, along with Google, Apple, Amazon, and Facebook.
Industry: Technology
Sector: Services-Prepackaged Software
Market Cap: 297.93 billion
Current Price: $36.25
Change: 2.86
Change %: 11.06%
PE Ratio: 30.61
Dividend Yield: 0.363
Shares Outstanding: 2.27583 billion
Volume: 1 billion
Market Cap (intraday): 462.44 billion
Beta (3Y Monthly): 0.332
EPS (TTM): 0.176
More about NVIDIA Corporation
NVIDIA Corporation Summary
NVIDIA Corporation is an American multinational technology company incorporated in Delaware and based in Santa Clara, California. It designs graphics processing units (GPUs) for the gaming and professional markets, as well as system on a chip units (SoCs) for the mobile computing and automotive market.
Industry: MANUFACTURING, SEMICONDUCTORS & RELATED DEVICES
Market Cap: $198.79B
Current Price: $190.00
PE Ratio: 66.65
EPS: 0.16
Dividend Yield: 11.93%
52-Week High: $24.68
52-Week Low: $0.488
Average Volume: 60,921,999
Market Cap: $1003.37
Beta (3Y Monthly): 7.61
Forward Dividend & Yield: $2.653
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