By Dhirendra Tripathi
Investing.com – Microsoft (NASDAQ:MSFT) was a tad higher in Wednesday’s premarket trading as its stock secured a price upgrade from Wedbush Securities to $325, implying some 22% upside from the stock’s close on Tuesday.
The software maker surpassed $2 trillion in market cap in the last session, becoming only the second company in the world to do so after Apple (NASDAQ:AAPL).
Analyst Dan Ives maintained his outperform rating on the shares.
Ives pointed out that while many tech stocks are all being lumped as work-from-home play, the growth story at Microsoft is not slowing down, as its cloud hosting unit benefits from more enterprises and governments migrating to the Cloud.
According to the Wedbush note, Azure's growth is shifting gear,. with its average deal size increasing.
Microsoft is likely to unveil a new version of its Windows software on June 24, according to reports.
Microsoft Gains On Price Upgrade From Wedbush
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