D.A. Davidson believes that 'Microsoft has been escalating an arms race it may not be able to win.'
D.A. Davidson believes that Microsoft 's rivals may have caught up to the cloud computing giant. These fears prompted the investment firm to downgrade the tech titan and "Magnificent Seven" member to a neutral rating from buy. Analyst Gil Luria maintained his price target of $475, which is approximately 9% higher than where Microsoft stock closed on Friday. Shares of Microsoft have risen nearly 16% this year.
mountain chart The justification for Microsoft's premium valuation may have been lost as competitors have largely caught up in the artificial intelligence space, Luria said. In particular, Amazon Web Services and Google Cloud Platform appear to pose the biggest threats to Microsoft's Azure cloud computing platform.
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