Stocks
AI-Fueled Giants: Microsoft and Amazon Report Strong Earnings Results
Microsoft and Amazon, two of the world's largest companies by market cap, have both reported strong earnings results that are fueling interest in their stocks.
Microsoft's AI strategy is gaining traction, with paid Copilot subscribers rising to 30 million after adding 10 million users in the quarter. The company's Azure cloud division also saw revenue surpass $100 billion for the first time, a 43% year-over-year increase.
The majority of Wall Street analysts have buy ratings on both stocks, with price targets indicating nearly 21% upside for Microsoft and roughly 23% for Amazon. Analysts point to the companies' massive investments in AI as key drivers of their growth potential.