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Surprise after the red light? AI strongly supports microsoft Q3 Azure revenue growth of over 30%, but expects Q4 growth to slow down, with increased AI spending.
In the third quarter, Microsoft's total cloud revenue grew by 22% year-on-year, exceeding expectations. AI contributed to a 12 percentage point increase in Azure, higher than the second quarter; Excluding the impact of exchange rates, Azure cloud revenue increased by 34% in the third quarter, slightly slower than the second quarter but still above expectations. However, it is expected that Azure's revenue growth in the fourth quarter will further slow to 31%-32%; Capital expenditures accelerated in the third quarter, with a year-on-year increase of nearly 79%, and is expected to increase quarter-on-quarter in the fourth quarter. The stock price initially rose by over 2% after market trading, but later dropped by over 4%.
Major rating | Goldman Sachs: Raises microsoft target price to $548, demand signal still strong
Glorys November 1st | Morgan Stanley research report points out that demand signals for Microsoft remain strong, with order growth reaching 23%, and remaining performance obligations (cRPO) growing annually by 17%, but supply constraints continue to limit the growth of generative AI-related businesses. Nevertheless, the management is confident in capacity expansion in the second half of the year, while Microsoft's forecasted PE ratio for 2026 is 25 times, so investors should see patient waiting rewarded. The firm believes that there are several key points to note, including Azure's guidance for the second quarter falling below expectations, as well as revenue and EPS guidance for the second quarter also lower than expected, and other revenue.
AI Spending Dominated Big Tech Earnings. Why These 2 Stocks Got a Pass From Investors. -- Barrons.com
Officially challenging Google! OpenAI launches ChatGPT search function, supported by major media such as News Corporation and Associated Press.
The search feature will be first launched for the paid version of ChatGPT Plus and Team, and will be available to all free users in the coming months; ChatGPT can search the web based on user queries, and users can also manually search by clicking on the search icon.
Microsoft Options Spot-On: On November 1st, 461.06K Contracts Were Traded, With 2.64 Million Open Interest
On November 1st ET, $Microsoft(MSFT.US)$ had active options trading, with a total trading volume of 461.06K options for the day, of which put options accounted for 43.33% of the total transactions,
Market Chatter: Microsoft Plans to Spend $10 Billion on CoreWeave's Data Centers