Is Microsoft Going to Be the First $4 Trillion Stock? 1 Wall Street Analyst Thinks So.
's (NASDAQ: MSFT) business has been on a roll. Importantly, its Azure cloud business jumped by 31% year over year in the most recent quarter. Sales from its suite of Office products also jumped by double digits. Personal computing-related devices and services also increased by 17%.
That helps explain why Microsoft shares have jumped by more than 30% over the past year. The move higher has brought the company's market capitalization to over $3 trillion. But one Wall Street analyst already sees the $4 trillion mark on the horizon.
New Street Research analyst Pierre Ferragu just initiated coverage on the tech giant with a "buy" rating and a $570 price target. That stock price would represent a gain of 33% from recent levels and give Microsoft a market cap of more than $4.2 trillion.
Source Fool.com