"AI+ Cloud Computing" has a bright future, Piper Sandler sings praises for Microsoft ahead of its performance report
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Piper Sandler raised Microsoft's target price to $485, maintaining a "neutral" rating, believing that Microsoft's cloud business is performing strongly. It is expected that by 2026, cloud computing revenue may double to over $200 billion. Microsoft is already one of the biggest beneficiaries of the artificial intelligence boom, but there is still more growth potential in the future. Wall Street generally expects Microsoft to deliver strong performance in the quarterly earnings report to be released next week
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