Technology Sector Ideas

[gfp927z]

>>> Microsoft Corporation (NASDAQ:MSFT) -- Number of Hedge Fund Holders: 302

https://www.insidermonkey.com/blog/5-best-stocks-to-buy-right-now-according-to-financial-media-1270874/4/

Number of Times Stock Appeared in Top Picks of Financial Media: 7

Microsoft Corporation (NASDAQ:MSFT) is a Washington-based technology company. On March 6, investment advisory Jefferies maintained a Buy rating on Microsoft Corporation (NASDAQ:MSFT) stock with a price target of $500.

Among the hedge funds being tracked by Insider Monkey, Texas-based investment firm Fisher Asset Management is a leading shareholder in Microsoft Corporation (NASDAQ:MSFT) with 25 million shares worth more than $9.5 billion.

In its Q4 2023 investor letter, Fred Alger Management, an investment management firm, highlighted a few stocks and Microsoft Corporation (NASDAQ:MSFT) was one of them. Here is what the fund said:

“Microsoft Corporation (NASDAQ:MSFT) is a beneficiary of corporate America’s transformative digitization. Microsoft’s CEO expects technology spending as a percent of Gross Domestic Product (GDP) to jump from about 5% now to 10% in 10 years and that Microsoft will continue to capture market share within the technology sector. The company operates through three segments:

Productivity and Business Processes (Office. LinkedIn, and Dynamics),

Intelligent Cloud (Server Products and Cloud Services, Azure, and Enterprise Services), and

More Personal Computing (Windows, Devices. Gaming, and Search).

During the quarter, the company reported strong fiscal first quarter results, where revenues and earnings beat analyst estimates, driven in large part to growing Al demand. Regarding Intelligent Cloud segment, management noted Azure optimizations were similar to the previous quarter, but new Al and traditional workloads are helping drive greater consumption growth, which resulted in their first reacceleration since March 2022. We believe the strong Azure performance suggests diminishing cost optimization headwinds and growing strength in Al service consumption.”

<<<



---