微软：短期 Azure 增长回调，最终将推动长期 AI 战略布局升级

28 January 2026 | 11:02PM EST Equity Research Microsoft Corp. (MSFT) Trading off short-term Azure growth ultimately drives more strategic AI positioning long term MSFT 12m Price Target: $600.00 Price: $481.63 Upside: 24.6% Selina Zhang +1(212)357-9979 | selina.zhang@gs.com Goldman Sachs & Co. LLC Key Data _____________________________________ Market cap: $3.6tr Enterprise value: $3.5tr 3m ADTV: $12.3bn United States Americas Software M&A Rank: 3 | GS Forecast __________________________________ | | | | | | - ...