Microsoft stands out as top Mag 7 stock pick, says portfolio manager

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up

stands out as top Mag 7 stock pick, says portfolio manager

STORY:

This is the hidden content, please

• Sign In
• or
• Sign Up

said on Tuesday it was laying off less than 3% of its workforce, or around 6,000 employees, as the technology giant looks to rein in costs while funneling billions of dollars into its ambitious bet on artificial intelligence.

Krawez said the layoffs announcement “is prudent and will feed into [

This is the hidden content, please

• Sign In
• or
• Sign Up

’s] increasing margins.”

The move comes weeks after

This is the hidden content, please

• Sign In
• or
• Sign Up

posted stronger-than-expected growth in its cloud-computing business, Azure, and blowout results in the latest quarter, calming investor worries in an uncertain economy.

“You saw Azure growth of 35% in constant currency, which was phenomenal, well above

This is the hidden content, please

• Sign In
• or
• Sign Up

, and AWS was up about 16%. So doubling

This is the hidden content, please

• Sign In
• or
• Sign Up

growth is fantastic,” said Krawez.

“They had stronger growth also than the third competitor, which is

This is the hidden content, please

• Sign In
• or
• Sign Up

’s cloud business,” said Krawez. “We like

This is the hidden content, please

• Sign In
• or
• Sign Up

because it has a lot of strong recurring revenue, which is a good thing to have in this marketplace where there’s a lot of volatility, and we’re a bit worried about a potential recession.”

This is the hidden content, please

• Sign In
• or
• Sign Up

#

This is the hidden content, please

• Sign In
• or
• Sign Up

#stands #top #Mag #stock #pick #portfolio #manager

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up