While at first a mere business idea and experiment, it has now grown at an unexpected rate, rivaling already well-known services in the business.
Azure surprising growth in the cloud business
This led analysist to maintain their opinion of giving Microsoft stock a Buy rating, urging for a 195$ price target. This target itself would be 20% more than where it is currently at the moment.
Microsoft Azure outshines AWS
Wall Street gambled on Azure growth and this alone lead to a stock surging of over 55% the past year. This growth is mainly due to the incredible growth rates of Azure versus AWS, alone. More so, sales reached a high-point of 50% for Microsoft Azure. In contrast, AWS was far behind it with a growth of only 39% in the past quarter. The final nail in AWS’s coffin seems to be Microsoft Azure winning the coveted $10 billion JEDI cloud contract from the U.S. government.
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