CMB International released a research report stating that Microsoft's third-quarter fiscal year 2024 performance was 2% higher than the market consensus, mainly driven by the better-than-expected growth in revenue from smart cloud (IC) and more personal computing (MPC) businesses; as for net profit performance, it was also 4% higher than market expectations.
The bank quoted management as emphasizing that artificial intelligence-related demand remains strong and guided further increases in investment in capital expenditures to meet outstanding needs.virtualbingoteambuildingneeds. Although Microsoft's incremental investment and integration in Blizzard may affect the company's profit margin performance. However, management still expects that the company's operating profit margin in fiscal year 2024 will increase by at least 2 percentage points year-on-year, supported by improved operating efficiency.
Based on the above factors, the bank set Microsoft's target price from 473virtualbingoteambuildingUS$.6 fell slightly to US$471.9, maintaining a "Buy" rating.
