New for subscribers: Wall Street's top analysts see stocks like Microsoft and Etsy as work-from-home beneficiaries Check out CNBCPro for a free trial.
of $260 on Microsoft, suggesting further upside potential of over 25%. Ives made the bullish call on July 22 following Microsoft's June results with headline numbers that came in above Street expectations.
Total revenues came in at $38 billion, up 13% year-over-year, compared to the Street at $36.5 billion. Non-GAAP earnings per share of $1.46 easily beat the Street's $1.34 estimate with operating margins of 35.3% versus Street estimates at 35.6%. "Cloud continuing to rock & roll," exclaimed Ives, noting that "this current remote work from home environment is further catalyzing more enterprises to make the strategic cloud shift with Microsoft the main beneficiary as evidenced by the solid results."has roughly a third of its revenue exposed to PCs and supply chain, the vast majority of its revenue and 80% to 90% of its valuation is based on its flagship Azure, Office 365, and core enterprise driven franchise.
And that's good news because Ives believes that this cloud shift and work-from-home dynamic is here to stay. With 33% of workloads in the cloud today poised to hit 55% by 2022, he calculates that the work-from-home shift could clearly accelerate the cloud trend by roughly a year. "In a nutshell, Nadella & Co. continue to lead a transformational cloud story narrowing the gap vs. Bezos and AWS into 2021" Ives said.
The analyst is ranked at No. 211 out of 6,813 analysts covered by TipRanks thanks to his strong stock picking skills.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Wall Street Journal Editorial Page Has a Persecution ComplexThe Wall Street Journal published an editorial insisting, “These pages won’t wilt under cancel-culture pressure.” jonathanchait writes that it's another in a long line of Journal editorial page persecution fantasies
Read more »
Wall Street down after worldwide slide; gold at record highStocks closed broadly lower for the second day in a row Friday as Wall Street gave back some of its gains from a mostly solid July rally.
Read more »
Here's what every major Wall Street analyst said about Tesla's second-quarter earnings reportFor subscribers: Here's what every major Wall Street analyst said about Tesla's second-quarter earnings report. Check out CNBCPro for a free trial.
Read more »
Wall Street slides as Intel dives, earnings and pandemic weighWall Street retreated on Friday as weak earnings sparked a pre-weekend selloff that was also fed by surging coronavirus cases and geopolitical uncertainties.
Read more »
Wall Street Week Ahead: Investors hedging, worry about exuberance, as U.S. risks riseSigns of trepidation over the lasting impact of the U.S. coronavirus pandemic are growing on Wall Street, fanned by resurgent case numbers, the prospect of a slower rebound in growth and rising political uncertainty.
Read more »
Tech titans drag Wall St. lower as virus cases mountTechnology stocks dragged Wall Street's main indexes lower on Friday on the back of Sino-U.S. tensions and fears over rising U.S. COVID-19 cases, putting the S&P 500 on track to erase all of its gains for the week.
Read more »