Microsoft’s Trillion-Dollar Quarter Shows AI Trade Won’t Quit

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Microsoft Corp.’s shares jumped 37.5% from July through September, their best quarterly showing since 1998, adding $1 trillion to the company’s market capitalization. The company’s earnings in late July showed the fastest cloud growth in four years from strong AI demand, easing concerns about whether Microsoft’s heavy AI investments would lead to better growth. There are 72 analysts tracked by Bloomberg who follow the company, and only three don’t have buy ratings, with the average price target suggesting the shares will rise about 11% in the coming 12 months. Bloomberg’s Ryan Vlastelica joins to discuss.
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