Microsoft earnings may have offered a big bullish clue about cloud growth

Forget Microsoft Corp.’s expectation for Azure revenue growth this quarter that is similar to what was seen last quarter. There may have been a far more bullish hint in the company’s latest commentary about what to expect from the cloud business.Bernstein analyst Mark Moerdler told investors to look at Microsoft’s MSFT, -0.05% capital-expenditure forecast, which calls for such spending “to increase materially on a sequential basis” on the heels of investments in cloud and artificial-intelligence infrastruct ...