#2 - Microsoft (NASDAQ:MSFT)
Amazon is number on in the global cloud market, but Microsoft (NASDAQ:MSFT) is number 2. And with 18% of the market, you can make a case that Microsoft’s Azure is – to steal from Avis – trying harder. In fact, Microsoft is the sixth among the top Robinhood stocks, one spot above Amazon.
The company’s cloud business has gotten a huge assist from the necessity for businesses of all sizes to adapt to a work-from-anywhere model. This has created more widespread adoption of its Teams software-as-a-service (SaaS) product.
In July Microsoft closed out its fiscal year by announcing its commercial cloud business exceeded $50 billion in revenue which was a 36% YOY increase.
Microsoft is also expecting to have a robust holiday season with the release of its latest version of its Xbox gaming console. The pandemic has also boosted subscriptions in Xbox Game Pass to record levels. And the company’s xCloud gaming service is now live in 15 countries and will soon be available on Game Pass which will allow users to stream games on their mobile devices.
About Microsoft
Microsoft Corporation develops and supports software, services, devices and solutions worldwide. The Productivity and Business Processes segment offers office, exchange, SharePoint, Microsoft Teams, office 365 Security and Compliance, Microsoft viva, and Microsoft 365 copilot; and office consumer services, such as Microsoft 365 consumer subscriptions, Office licensed on-premises, and other office services.
Read More - Current Price
- $406.66
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 32 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $452.61 (11.3% Upside)
