(Bloomberg) —
Microsoft should report strong fourth-quarter results later this month despite an uncertain economic environment, with its cloud business acting as a tailwind, according to Piper Sandler.
- There is high demand for cloud computing as more people work remotely, and this tailwind “should help MSFT safely navigate choppy waters,” analyst Brent Bracelin wrote
- The cloud business “could triple to $150B+ within five years”
- MSFT to report 4Q on July 22, and Piper expects “resilient results in the face of economic uncertainty”
- Overweight, PT $192
- Microsoft has 32 buys, 4 holds, no sells, average PT $216: Bloomberg data
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