Wall Street's bullish sentiment on Microsoft hasn't faded, even after the tech giant forecast disappointing revenue growth numbers.
The company's revenue increased 16% year over year in the quarter, and its net income rose 11% during the period compared to the year-ago quarter.
That forecast led shares to slip nearly 4% in premarket trading, despite the company's strong earnings performance.
That would be the company's fastest ever AI-related revenue growth rate.
Barclays, which has one of the lowest price objectives on Wall Street, said it sees Microsoft shares being "range bound" in the short term.
Persons:
Morgan Stanley —, Bernstein, Morgan Stanley, Keith Weiss, Weiss, Kirk Materne, Materne, Raimo Lenschow
Organizations:
Microsoft, LSEG, JPMorgan, Bank of America, Barclays, Citi, 25X, Investors
Locations:
Wells