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Microsoft Is Becoming 'King of the Cloud,' Poised to Overthrow Amazon Web Services

KeyBanc analysts said Microsoft Corp (MSFT) will dethrone Amazon.com (AMZN) Web Services to become the "king of the cloud" thi...


KeyBanc analysts said Microsoft Corp (MSFT) will dethrone Amazon.com (AMZN) Web Services to become the "king of the cloud" this quarter.

Analysts reiterated an "overweight" rating and increased their price target for the software giant to $82 from $78. The new target implies a 10% upside from Thursday's closing stock price.

Microsoft's commercial cloud revenue increased 56% year over year, which exceeded KeyBanc's estimates by about $2 billion. "The sheer size and accelerating pace of cloud growth increases our confidence in the bull-case scenario that Microsoft Cloud can quickly scale north of a $50 billion segment by 2021."

KeyBanc lowered GAAP earnings per share estimates, writing that outsized growth in cloud investments "more than justifies" a higher stock-based compensation that will put pressure on margins.

Microsoft stock was slightly up in premarket trading.
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UP LIVE NEWS: Microsoft Is Becoming 'King of the Cloud,' Poised to Overthrow Amazon Web Services
Microsoft Is Becoming 'King of the Cloud,' Poised to Overthrow Amazon Web Services
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