Wedbush latest checks on Microsoft show AI monetization ‘on the doorstep’

Wedbush believes while Microsoft management has talked about a “gradual ramp” for AI monetization in FY24, the adoption curve is happening quicker than expected based on the firm’s recent checks. Wedbush’s latest Azure checks also show a clear uptick in activity sequentially, which gives the firm further confidence in Microsoft exceeding its 25%-26% Azure growth guidance in Q1. Wedbush has an Outperform rating on the shares with a price target of $400.