5 big analyst AI moves: CMB starts Amazon at Buy; Super Micro PT lifted
Investing.com — Here are the biggest analyst moves in the area of artificial intelligence (AI) for this week.
InvestingPro subscribers always get first dibs on market-moving AI analyst comments. Upgrade today!
After hosting a virtual investor meeting with Microsoft’s investor relations (IR) managers Brett Iversen and Danielle Criste, TD Cowen equity analysts reaffirmed their bullish views on the tech giant’s stock, citing accelerating demand for Azure and AI workloads.
“In Azure, demand trends are stabilizing, spend on new workloads is resurfacing and healthy backlog is driving confidence in growth & share gains. In AI, customer projects are early, breadth of demand is building & MSFT seems to be capitalizing on competitive advantages,” analysts led by Derrick Wood said in a note this week.
The broker highlighted a change in customer patterns for Microsoft (NASDAQ:MSFT), noting a pivot in how clients are allocating their budgets amidst the economic landscape.
Where there was once reluctance to invest in new workloads and premium services due to economic uncertainties, customers are now engaging more actively by investing in new workloads again; setting aside budgets specifically for AI initiatives on Azure; and accumulating a more substantial backlog of projects to initiate.
“We get the sense this is helping to build a larger & more visible level of pipeline for Azure, giving mgmt confidence in the durability of Azure growth,” TD Cowen noted.
China Merchants Bank’s subsidiary CMB International Capital Corp. started research coverage on the technological behemoths on Amazon (NASDAQ:AMZN) this week, saying it sees “ample potential” for the tech behemoth’s growth opportunities for its e-commerce sector both in the US and
Read more on investing.com
