The stock market was little changed on Friday as it lost its momentum after a blowout earnings from NVIDIA (NVDA). The stock continued their rise during the day, pushing the company’s valuation to almost $2 trillion.
Overall, S&P 500 was flat at 5,089, while NASDAQ declined 0.3% to 15,997.
Tweet of the Day
As Nikesh has clearly communicated on the call that they are trying to create a "Platformization strategy" that reduces their customers costs. Eg. Legacy endpoints from $CRWD and $MSFT or legacy firewall $FTNT – customers are stuck with those end points/firewalls. If you are part… https://t.co/A1eZ5GMtBX
— Fundamental Research & Investor (@fundam_inv) February 20, 2024
Chart of the Day
Here is the one-year chart of Microsoft (MSFT) as of February 6, 2024, when the stock was at $405.
Microsoft is delivering very good sales and profit growth as the stock continues to climb. Last quarter, the company delivered 26% profit growth on 8% revenue growth. The stock is up from $341 to $405 since our report last quarter. Azure was the highlight of last quarter’s news as revenue grew by 28%. Azure is Microsoft’s public cloud platform that lets users manage cloud services such as storing data and transforming it. Customer base for Azure AI has grown to 53,000, with 1/3 being new additions over the past year. Management is seeing larger and more strategic Azure deals with an increase in the number of billion-dollar-plus Azure commitments. Xbox Content and Services revenue increase by 61% as the company closed its Activision Acquisition and added hundreds of millions of gamers to their ecosystem.
MSFT is part of the Conservative Growth Portfolio.
