Wells remains bullish on Microsoft as content, services drive adoption flywheel

Wells Fargo analyst Michael Turrin held an investor session with the CFO of Xbox. While cloud gaming holds promise long-term — with Microsoft uniquely positioned given Azure, management is investing prudently – seeking tangible signs of adoption while focusing on higher margin content plus services in the near-term, the firm notes. Wells remains bullish on Microsoft as content and services continue to drive adoption flywheel. The firm has an Overweight rating on the shares with a price target of $365.