Wedbush’s Dan Ives Lauds Microsoft’s ‘Masterpiece Quarter,’ Says CEO Nadella’s Guidance ‘Should Be Hung In The Louvre’
Software giant Microsoft Corp. (NASDAQ:MSFT) reported better-than-expected fiscal year 2024 second-quarter results on Tuesday, prompting Wedbush analyst Daniel Ives to reaffirm his optimistic outlook on the company.
Analyst’s Take: Ives maintained an Outperform rating and set a $450 price target for Microsoft stock.
Microsoft’s fourth-quarter earnings and revenue were driven by substantial investments in integrating artificial intelligence (AI) into its overall portfolio to spur growth, according to Ives. “This was another masterpiece quarter and guidance from [Satya] Nadella that should be hung in the Louvre,” he said.
Ives anticipates the results will have a significant ripple effect across the tech industry on Friday.
Ives highlighted that Microsoft is in the early stages of a “major monetization” …
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