Group 1 - D.A. Davidson raised Microsoft's target price from $600 to $650 [1]

智通财经7月31日电，D.A. 戴维森将微软目标价从600美元上调至650美元。 ...

派杰投资：将微软的目标价从600美元上调至650美元。 ...

Core Viewpoint - Microsoft is poised for significant growth following its strong earnings report, particularly driven by a 39% increase in Azure cloud services and rapid expansion in AI business, leading to a surge in stock price [1][2]. Financial Performance - For the fourth fiscal quarter of 2025, Microsoft reported revenue of $76.4 billion, a 17% year-over-year increase. Azure's sales grew by 39%, surpassing analyst expectations of 34%. The cloud business revenue exceeded $168 billion, reflecting a 23% increase [2]. - Microsoft’s stock has seen a remarkable recovery, rising nearly 45% since hitting a low on April 8, making it the second-best performing stock among the "Tech Seven" this year [3]. Analyst Sentiment - Wall Street analysts are generally optimistic about Microsoft's future performance, with 65 out of 72 analysts rating it as a "buy" and only 1 as a "sell." The average 12-month target price is $55.4 billion, indicating an approximate 8% upside from the recent closing price [5]. Future Guidance - Microsoft's management provided strong guidance, expecting capital expenditures to exceed $30 billion in the first quarter of the new fiscal year, with projected revenue growth in double digits. Azure is anticipated to maintain a growth rate of 37% in the upcoming quarter, exceeding market expectations [6]. AI Business Growth - Microsoft's investments in AI are yielding substantial returns, with over 800 million monthly active users for AI features and over 100 million for the Copilot application. The adoption rate of Copilot is the fastest among new products in the Microsoft 365 suite [7]. - GitHub Copilot has reached 20 million users, with a 75% year-over-year increase in enterprise customers. Additionally, 80% of Fortune 500 companies are utilizing the Azure AI Foundry platform, which processed over 500 trillion tokens this year, a growth of more than 7 times [7].

Group 1 - Barclays raised the target price for Microsoft (MSFT.US) from $550 to $625 [1]

今日A股AI基建板块全线飙涨，液冷服务器、CPO领涨，工业富联盘中触及涨停续创历史新高，市值突破7000亿元，中际旭创涨超6%，新易盛涨2.87%。 ETF方面，创业板人工智能ETF富国、云计算ETF华泰柏瑞、国泰基金通信ETF、创业板人工智能ETF华宝、创业板人工智能ETF国泰、新华基金云50ETF、 云计算ETF沪港深、创业板人工智能ETF华夏、广发基金云计算50ETF、创业板人工智能ETF南方均涨超3%。 消息面上，Meta业绩超预期、指引强劲，上调全年资本支出下限，盘后大涨12%。广告收入 465 亿美元，同比增长 23%，超预期的 440.7 亿美元，主要受益 于 AI 驱动的广告精准投放和用户增长（日活跃用户数达 34.8 亿，同比增长 6%）。 Meta将资本支出计划上调至 660-720 亿美元（原 640-720 亿美元），2026 年预计超 1000 亿美元，重点投入 AI 基础设施和数据中心。 管理层表示，AI 将成为广告效率和元宇宙体验的核心驱动力，计划在 2026 年推出多款 AI 原生应用。 二季度微软营收创一年半最高季增速，营收764.4 亿美元，同比增长 18%，超预期的 73 ...

【#微软登录页面引入深色模式##微软将调整登录界面#】科技媒体 NeoWin 昨日（7 月 30 日）发布博 文，报道称微软计划于 2025 年 8 月更新个人账户登录页面，将采用磨砂玻璃效果的背景图像，并引入 深色模式。 微软将从下月开始调整登录界面，浅色模式下采用柔和的粉彩色渐变背景，而在背景采用磨砂玻璃效果 的图像，遵循 Fluent Design 美学，提供了一个更干净、无干扰且一致的用户体验，同时也使用户界面 更加现代化。 微软还计划从 2025 年 9 月 29 日起，这一背景图也将推广到 Entra 工作和教育账户。需要注意的是，这 一视觉更新无需管理员操作，将自动应用。但如果企业要树立公司品牌，可优先设置反映公司品牌的背 景图像。 此外微软新版登录页面还支持深色模式，会跟随浏览器或者系统的当前设置动态变化。在进入深色模式 之后，保持原有设计不变，但会改变背景图像。（IT之家） ...

AI云业务的强势助推下，微软炸裂财报来袭。 周三美股盘后，微软公布2025财年第四季度及全年财报，超华尔街预期。 受此提振，微软股价盘后一度猛升超8%，市值约至4.1万亿美元。 如今晚涨势继续，这将是继英伟达之后，"4万亿美元市值"俱乐部迎来的第二位成员。 今年4月初以来，微软从本轮低点一路上扬，目前累计涨幅近40%。 苹果、亚马逊则将于8月1日公布财报，英伟达预计在8月27日。 AI热潮下的大赢家 财报显示，微软2025财年全年营收为2817.24亿美元，同比增长15%。 营业利润为1285亿美元，同比增长17%；净利润为1018.32亿美元，同比增长16%。 值得关注的是，微软首次披露了Azure云业务收入。 2025财年，Azure云业务营收超过750亿美元，同比增长34%。 年内则累计上涨22%，表现也优于标普500指数8%的涨幅。 截至目前，美股七巨头中，谷歌、特斯拉、微软、Meta业绩均已出炉。 2025财年第四季度（下称二季度），微软总营收为764.41亿美元，同比增长18%，扭转了前两个季度增长放缓的势头。 二季度，营业利润343亿美元，同比增长23%。净利润272亿美元，同比增长24%。稀释 ...

在美股盘前，美国公布了多项超出市场预期的宏观经济数据。 尾盘时段，市场在经历利率决议和关税消息的消化后，部分抄底资金涌入，尤其是对科技成长股的拉升带动纳指率先翻红。整体市场情绪略有修复。 截至收盘，道指跌幅为0.38%；纳指涨幅为0.15%；标普500跌幅为0.12%。 云力挺微软营收加速增长18% 周三美股盘后，微软公布今年第二季度财报，业绩全面超出华尔街预期，显示其核心云计算与AI业务正在提速放量，市场对此高度看好。 盘后微软股价大涨逾8%。若涨势延续至周四开盘，微软有望成为继英伟达之后，第二家市值突破4万亿美元大关的科技巨头。 宏观层面的温和乐观情绪令早盘，纳指涨超0.3%，道指跌超0.1%后涨超0.1%，标普500指数涨超0.2%。 美股午盘，据美股投资网了解到,美联储公布利率决议。如市场普遍预期，联储连续第五次维持利率不变。然而，会中有两位票委投票支持降息，一度， 市场强化了年内可能启动降息的预期，推动美股与美债短线拉升。 但美联储主席鲍威尔在随后举行的新闻发布会上并未给予任何关于9月是否降息的明确指引。他指出，美国就业市场尚未表现出实质性疲软，通胀路径存 在不确定性，当前政策立场仍需"依数据而定" ...

Group 1: Computer Sector Performance - The three major indices opened mixed on July 31, with the computer sector experiencing a volatile rise [1] - The Computer ETF (159998) rose by 1.08% during the session, with a trading volume exceeding 500 million yuan, leading among similar products [1] - Over 80% of the component stocks in the Computer ETF were in the green, with notable gains from companies like Yonyou Network (over 8% increase) and others such as 360 and Kingsoft [1] - As of July 29, the Computer ETF (159998) had a year-to-date net inflow rate exceeding 67%, ranking first among similar products [1] Group 2: AI and Technology Developments - Baidu is testing an AI application entry point on its desktop search homepage, allowing users to access AI applications directly [1] - The integrated AI applications come from Baidu's Wenxin AI platform and external quality AI applications, with full rollout expected soon [1] - Meta reported Q2 revenue of $47.52 billion, a 22% year-on-year increase, and a net profit of $18.34 billion, up 36% [2] - Microsoft announced Q2 revenue of $76.44 billion, an 18% year-on-year increase, with Azure and other cloud services revenue growing by 39% [2] - The domestic AI model's evolution is expected to accelerate commercial applications, shifting AI commercialization from tools to assistants [3] - The AI industry is entering a new phase of training and deployment efficiency improvements, with a focus on platform internet companies and AI ecosystem enterprises [3]