微软（纳斯达克代码：MSFT）是全球市值超 3.5 万亿美元的科技巨擘之一。凭借对 OpenAI 的持股以及 Azure 云业务的增长，公司在人工智能领域占据着得天独厚的优势，微软有望实 现强劲增长，为股东创造可观回报。 财 务 表 现 ： 全 线 两 位 数 增 长 ， 盈 利 能 力 强 劲 微软近期财务业绩表现亮眼，各项核心指标均实现了令人瞩目的两位数增长，具体数据来自微 软投资者报告Microsoft。 1.营收增长 ：受云业务持续向好驱动，公司营收同比增长 18%（剔除汇率影响后为 17%）。 按当前增速，云业务部门有望在约一年内成为微软第一大业务板块。本季度公司总 营收逼近 777 亿美元。得益于软件业务的核心属性，微软始终保持着极高的利润率水平。 2.盈利水平 ：本季度营业利润率高达 99%，营业利润达 880 亿美元。 公司公认会计准则下 的利润率提升了 2 个百分点，推动营业利润实现了 24% 的大幅增长。经调整其他费用后，公 司净利润达 777 亿美元，摊薄每股收益为 3.72 美元。目前，微软的市盈率约为 33 倍。 【如需和我们交流可扫码添加进社群】 股 东 回 报 与 资 本 支 出 ...

Core Viewpoint - Microsoft is recognized for rewarding long-term investors through substantial dividends and stock buybacks, positioning itself as a strong investment choice among the "Magnificent Seven" stocks [1][2]. Dividend and Buyback Summary - In fiscal 2025, Microsoft allocated $24.08 billion to dividends and $18.42 billion to stock buybacks, surpassing other S&P 500 companies in total cash spent on dividends [2]. - Microsoft announced a 10% increase in dividends, marking its 16th consecutive annual increase, despite a current yield of only 0.7% [2][3]. - Over the past decade, Microsoft has increased its dividend by over 250%, although the yield has decreased due to a significant rise in stock price [9]. Investment Thesis - Microsoft is characterized as an underrated dividend stock, with a focus on dividend growth rather than just forward yield, which can misrepresent a stock's true income potential [5][8]. - The company is noted for its balanced approach to capital deployment, with a strong presence in cloud computing, AI, software, gaming, and personal computing [11][12]. - Microsoft's commitment to returning capital to shareholders through dividends and buybacks positions it as a foundational stock for long-term investment [16][17]. Financial Metrics - Microsoft has a market capitalization of $3.6 trillion and a gross margin of 68.76%, indicating strong financial health [11]. - The company's free cash flow (FCF) remains robust, with capital expenditures rising but not outpacing cash flow from operations, unlike some competitors [12][15].

The nominee for the head of South Korea’s media commission, Kim Jong-cheol, has reportedly expressed his intention to prioritize the implementation of social media restrictions for teenagers.Teen Social Media Limits Key Priority, Kim SaysKim, during a parliamentary hearing on Tuesday, emphasized the necessity of imposing limitations on social media use by teenagers, citing it as a crucial step to safeguard the youth, reported Reuters. He stated that this initiative is a fundamental part of the commission’s ...

Core Insights - Microsoft has shown solid returns in 2025, with shares currently trading around $479, below the 52-week high of $553.50, despite robust fundamentals [1] - The company reported revenue of $77.67 billion in the latest quarter, exceeding estimates by nearly $2.3 billion, reflecting an 18.4% year-over-year growth [1] - CEO Satya Nadella is positioning Microsoft at the forefront of the AI revolution, integrating Copilot AI assistants across its productivity suite [2] Analyst Expectations - Analysts are bullish on Microsoft, with a consensus 12-month price target of $625.41, indicating a potential upside of 30.5% from current levels [3] - A near-unanimous support from analysts, with 56 out of 57 rating it a buy or strong buy, reflects strong conviction in the company's growth trajectory [4] Growth Drivers - Revenue growth is expected to continue in the high teens, driven by Azure's expansion and increasing AI adoption among enterprise customers [4] - Earnings per share estimates are rising, with analysts forecasting continued double-digit earnings growth as Microsoft scales its AI infrastructure investments [4] - Microsoft has beaten earnings expectations in 11 of the past 12 quarters, suggesting actual results may exceed forecasts [4] Valuation Insights - At the current price of $479, Microsoft trades at approximately 30x forward earnings, while a target price of $650 would imply a valuation of about 41x forward earnings [5] - The S&P 500 trades around 22x forward earnings, indicating that Microsoft commands nearly double the market multiple, justified by its scale, profitability, and growth [6] Catalysts for Growth - AI monetization is accelerating with Copilot tools integrated across various platforms, creating new revenue streams [13] - Azure is gaining cloud market share with a 40% growth rate, significantly outpacing overall cloud market expansion [13] - Institutional investors are increasing their positions, with Adage Capital recently making Microsoft its second-largest holding [13] - Microsoft is aggressively expanding data center capacity to meet surging AI compute demand, including a significant acquisition in Michigan [13] Historical Performance - Achieving a stock price of $650 would require a 35.7% gain from current levels, a target that Microsoft has historically reached multiple times [14] - The stock delivered 57% returns in 2023 and has posted annual gains exceeding 35% in several years since 2000 [14] Market Sentiment - Microsoft, now valued at $3.56 trillion, may find it challenging to repeat triple-digit returns, but 35% gains remain feasible given its growth profile [15] - The market's sentiment on AI will likely influence Microsoft's performance in the coming year, with media mentions of the 'AI bubble' at an all-time high [15] Future Projections - If Azure growth accelerates to nearly 50% by the end of 2026, Microsoft could surpass a $5 trillion valuation and reach the $650 per share target [16] - Wall Street forecasts a 30.5% upside, and consistent earnings beats suggest actual results may exceed expectations, making the $650 target achievable if AI adoption and Azure growth continue [17]

You know, we had a Thanksgiving weekend in the US a few weeks ago. And so I had a chance to say like, "what else can one do over Thanksgiving other than build?" And so I built an app of my own, using all of the stuff that Karan was showing. So this is my Azure environment. And by the way, this is my regular PC that I travel with, so hopefully nothing happens.But, and so this is, it's in fact, I have this app deployed, I think, in, south central Canada. This is my GitHub repo. And, it's fun, right.So I kind ...

Core Insights - Microsoft is expanding its AI infrastructure significantly, with a focus on creating flexible, global AI systems and superfactories to enhance efficiency and reduce costs [1][2] Group 1: Infrastructure Strategy - The company's strategy involves densely packed computing power across global networks, aiming to optimize computing cycles while managing the financial demands of AI development [2] - Capital expenditures for Q1 fiscal 2026 reached $34.9 billion, a 74% increase year-over-year, surpassing the previously projected $30 billion [2][7] - Management anticipates continued growth in capital spending for fiscal 2026, exceeding fiscal 2025 levels [2] Group 2: Financial Position - As of September 30, 2025, Microsoft reported cash and cash equivalents plus short-term investments of approximately $102 billion against total debt of $97.6 billion [3] - Operating cash flow for the quarter was $45.1 billion, indicating strong cash generation capabilities [3] - The company's debt-to-cash ratio exceeds 2:1, highlighting the need for consistent cash flow to support its expansion without increasing leverage [4] Group 3: AI Initiatives - Microsoft is undertaking resource-intensive initiatives in healthcare diagnostics, processing over 50 million daily health queries, and developing quantum computing through the Majorana 1 chip [4] - GitHub's repository intelligence processes 43 million monthly pull requests and 1 billion annual commits, necessitating substantial backend support [4] Group 4: Competitive Landscape - Amazon and Alphabet (Google) are also making significant AI infrastructure investments, with Amazon reporting $34.2 billion in capital expenditures and Google raising its 2025 capital expenditure guidance to $91-$93 billion [5] - The parallel increase in spending among these cloud giants reflects a shared belief in the necessity of AI infrastructure investments for competitive positioning [5] Group 5: Stock Performance and Valuation - Microsoft shares have appreciated 4.3% over the past six months, outperforming the Zacks Computer – Software industry and the Zacks Computer and Technology sector [6] - The stock is currently trading at a forward Price/Sales ratio of 10.55X, compared to the industry's 7.69X, indicating a higher valuation [8] - The Zacks Consensus Estimate for fiscal 2026 earnings is $15.59 per share, reflecting a 14.3% year-over-year growth [9]

Key Points Microsoft can endure cyclical slowdowns. Its growth and profitability continue to accelerate. The company is a good value and pays a growing dividend. 10 stocks we like better than Microsoft › Welcome to the final article in a seven-part series ranking the best "Magnificent Seven" stocks to buy for next year. To recap, Tesla was in last place, followed by Apple as the sixth seed, Amazon in fifth, Alphabet fourth, Nvidia third, and Meta Platforms second. Here's why Microsoft (NASDAQ: ...

然而，随着今年 8 月 GitHub CEO Thomas Dohmke 宣布辞职，并且 GitHub 不再设立 CEO 职位，由微软 AI 团队直接接管，这一举措再次引发外界 对平台未来的关注。 就在这样的背景下，一股新的"迁徙潮"悄悄兴起：越来越多的开发者开始将开源项目从 GitHub 迁移到了其他平台，其中既有轻量级浏览器、游戏模拟 器项目，也包括像 Zig 这样的知名编程语言项目。 让众人好奇的是：GitHub 究竟是怎么"惹了众怒"，还是开发者自身的问题？ 整理 | 屠敏 出品 | CSDN（ID：CSDNnews） 回看 2018 年，微软以 75 亿美元收购 GitHub 时，不少开发者曾一度感到紧张，担心这一开源代码协作平台会被科技巨头掌控，自由受限，甚至有人 扬言要弃用 GitHub。多年过去，微软基本保持了 GitHub 的开放精神，也让大部分开发者逐渐安心。 Zig 核心开发者：GitHub 优先级和工程文化早已"腐化" 在这波"迁移潮"中，Zig 编程语言的体量算是最大、影响最广的。 Zig 是一门仍在开发中的原生编译型编程语言，但它已经被一些知名项目采用，包括 Bun JavaScr ...

Core Insights - ServiceNow, Inc. (NYSE:NOW) is recognized as a leading consumer cyclical stock and plays a significant role in the enterprise AI segment through its AI services [1] - The company has been expanding its partnership with Microsoft, enhancing its AI capabilities and workflow management solutions [2][3] - Despite recent underperformance due to cautious guidance and concerns over client renewals, ServiceNow's AI innovations are gaining traction and supporting its strategic positioning [4] Group 1: Company Overview - ServiceNow, Inc. is a software company focused on streamlining business workflows and integrating AI into its services [1] - The company’s AI Control Tower and Build Agent will now work with Microsoft's AI Foundry, Copilot Studio, and GitHub, marking a significant advancement in its offerings [2] Group 2: Strategic Partnerships - The collaboration with Microsoft allows ServiceNow to provide its business customers with enhanced automation and workflow management while leveraging Microsoft's AI services [2][3] - This partnership aims to connect orchestration and governance across both platforms, enabling organizations to manage intelligent agents effectively [3] Group 3: Market Position and Performance - Columbia Threadneedle Investments noted that ServiceNow underperformed in the last quarter due to cautious guidance and concerns about large client renewals [4] - Despite these challenges, the company’s AI innovations are seen as a key factor in its strategic positioning as a next-generation workflow and AI orchestration platform [4]

Core Insights - ServiceNow is expanding its partnership with Microsoft, integrating its AI Control Tower with Microsoft Foundry and Copilot Studio to enhance enterprise-grade orchestration and governance across AI agents and workflows [2][3][4] Company Developments - ServiceNow's subscription revenue guidance for 2025 has been raised to between $12.835 billion and $12.845 billion, indicating a growth of 20% on a non-GAAP constant currency basis and 20.5% on a reported basis compared to 2024 [5] - The company is facing challenges due to tightening budgets from U.S. federal agencies, which may negatively impact subscription revenues in the fourth quarter of 2025 [5] Competitive Landscape - ServiceNow is experiencing stiff competition from Atlassian and Salesforce, with Atlassian focusing on subscription-based solutions that have seen a CAGR of approximately 40% from fiscal 2020 to fiscal 2025 [6] - Salesforce is enhancing its AI capabilities and data cloud business, reporting a 140% year-over-year increase in Data Cloud customer adoption in the second quarter of fiscal 2026 [7][8] Financial Performance - ServiceNow shares have declined by 24.6% year to date, underperforming the broader Zacks Computer and Technology sector, which has returned 25.9% [9] - The forward 12-month price/sales ratio for ServiceNow is 10.83X, significantly higher than the broader sector's 6.61X, indicating that the stock may be overvalued [10]