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Upcoming quarterly reports from U.S. tech giants may reveal Microsoft’s significant strides in the cloud-computing market, particularly in the realm of artificial intelligence (AI).
Microsoft’s AI services, including the Copilot, have attracted businesses with generative AI features powered by OpenAI’s technology, positioning the company as a formidable competitor to market leader Amazon.com.
Analysts anticipate that Microsoft’s earnings report, scheduled for Thursday, will underscore the growing adoption of AI services and their impact on the company’s Azure cloud-computing service.
The company’s substantial investments in generative AI are expected to yield positive results, potentially influencing the movement of technology stocks amidst concerns about U.S. interest rates.
Microsoft’s AI strategy is likely to contribute to a broader rally in the technology sector, particularly as businesses seek stability amidst economic uncertainty. The company’s strong performance could signal a shift in market dynamics, with potential implications for competitors like Amazon and Google.
Azure, a key component of Microsoft’s Intelligent Cloud unit, is projected to experience robust growth in the first quarter of 2024.
Analysts estimate a growth rate of 28.9%, outpacing competitors like Amazon Web Services and Google Cloud. This growth is attributed in part to the appeal of Microsoft’s AI-driven offerings.
Analysts suggest that Microsoft’s AI services, including the Copilot, could significantly contribute to Azure’s revenue growth. Up to 8 percentage points of Azure’s growth may be attributed to AI services, reflecting the increasing demand for AI-driven solutions among businesses.
While the impact of AI services on revenue is expected to be substantial, analysts anticipate that the full potential of these offerings may not be realized until the next fiscal year.
Estimates project a significant revenue contribution from AI services in Microsoft’s fiscal 2025, signaling a promising outlook for the company’s long-term growth prospects.
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