--- title: "Goldman Sachs expects Microsoft's internal research and development computing resource ratio to rise to 20%, maintaining a \"Buy\" rating" description: "Goldman Sachs expects that the proportion of internal research and development computing resources at Microsoft will rise to 20%, maintaining a \"Buy\" rating. Although Microsoft's stock price has falle" type: "news" locale: "en" url: "https://longbridge.com/en/news/276030441.md" published_at: "2026-02-16T03:57:22.000Z" --- # Goldman Sachs expects Microsoft's internal research and development computing resource ratio to rise to 20%, maintaining a "Buy" rating > Goldman Sachs expects that the proportion of internal research and development computing resources at Microsoft will rise to 20%, maintaining a "Buy" rating. Although Microsoft's stock price has fallen by about 15% since the end of December last year, mainly due to an upward adjustment in capital expenditure guidance, the lack of a corresponding upward adjustment in Azure growth forecasts has raised market concerns. Goldman Sachs believes that Microsoft's Azure growth relies on AI computing power capacity, and internal resource allocation will affect future development. The target price is $600 Goldman Sachs published a research report indicating that since Microsoft (MSFT.US) announced its second fiscal quarter results for the period ending December last year at the end of last month, its stock price has cumulatively fallen by about 15%. This is believed to be due to the upward revision of capital expenditure guidance, but management did not simultaneously raise the growth forecast for Azure, raising market concerns and worries about capital return rates and Azure's competition with peers, as well as market attention on whether the Office 365 business will be impacted by new AI competition. The firm pointed out that the growth of Microsoft Azure fundamentally depends on the new AI computing power capacity and the ratio of resources allocated by Microsoft for internal use versus external customers. Considering that Microsoft is currently facing limited computing power supply, the new computing power is expected to be allocated to Copilot and internal R&D, resulting in an increased proportion of computing resources used for internal purposes. However, Goldman Sachs still believes that capital expenditure for internal R&D is a long-term investment, with some currently not directly monetized but still potentially monetizable in the future, which remains crucial to Microsoft's overall development strategy. The firm has revised its forecast for the proportion of computing resources used for internal purposes from about 10% to about 20%, believing this will drive Microsoft's multi-dimensional strategic AI positioning in the future and bring better returns in the medium term, maintaining a "Buy" rating with a target price of $600 ### Related Stocks - [MSFT.US - Microsoft](https://longbridge.com/en/quote/MSFT.US.md) - [MSFU.US - Direxion Daily MSFT Bull 2X Shares](https://longbridge.com/en/quote/MSFU.US.md) - [MSFO.US - YieldMax MSFT Option Income Strategy ETF](https://longbridge.com/en/quote/MSFO.US.md) - [MSFD.US - Direxion Daily MSFT Bear 1x Shares](https://longbridge.com/en/quote/MSFD.US.md) - [MSFX.US - T-Rex 2X Long Microsoft Daily Target ETF](https://longbridge.com/en/quote/MSFX.US.md) - [CLOU.US - Global X Cloud Computing ETF](https://longbridge.com/en/quote/CLOU.US.md) - [MSFL.US - GraniteShares 2x Long MSFT Daily ETF](https://longbridge.com/en/quote/MSFL.US.md) - [MSFY.US - Kurv Yield Premium Strategy Microsoft MSFT ETF](https://longbridge.com/en/quote/MSFY.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | Microsoft Reports 80% of Fortune 500 Now Use Active AI Agents | Microsoft's Cyber Pulse report reveals that 80% of Fortune 500 companies are now utilizing active AI agents, with adopti | [Link](https://longbridge.com/en/news/275500057.md) | | FPT Recognized in Gartner® Market Guide for Microsoft 365 Implementation and Support Services 2026 | FPT has been recognized in the Gartner® Market Guide for Microsoft 365 Implementation and Support Services 2026, listed | [Link](https://longbridge.com/en/news/275688172.md) | | Wesfarmers Partners With Microsoft for Technology Adoption | Wesfarmers Partners With Microsoft for Technology Adoption | [Link](https://longbridge.com/en/news/275833938.md) | | Amazon, Microsoft, and Alphabet All Reported Robust Cloud Growth. 1 Was a Clear Winner | Amazon, Microsoft, and Alphabet reported strong cloud growth driven by rising demand for artificial intelligence (AI). 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