Technology giant Microsoft Corp. (NASDAQ: MSFT) has collaborated with aerospace and defense conglomerate Raytheon Technologies (NYSE: RTX) to provide the latter’s employees with cloud-based tools, technologies, and platforms to optimize their business operations.
By leveraging Microsoft Azure, Raytheon Technologies will be able to improve data-driven insights, adding new forms of customer value through predictive analytics. Further, the collaboration will help Raytheon’s current initiatives to lower the footprint of its data centers by 60%.
Raytheon Technologies’ Chief Digital Officer and SVP for Enterprise Services commented, “Strategic partnerships such as this one act as an accelerant toward our goal of leveraging the power of digital transformation to support business growth, drive operational excellence, and equip our employees with the tools they need to be productive wherever they work.”
Is Microsoft Stock a Buy?
The stock has lost 35% over the past year, and the recent sell-off could be a buying opportunity.
The Wall Street community is clearly optimistic about Microsoft stock. Overall, MSFT commands a Strong Buy consensus rating based on 25 Buys and three Holds. Microsoft’s average price target of $294.85 implies 35.2% upside potential from current levels.
