Microsoft to report ‘solid’ Q1 results, says Loop Capital

Loop Capital analyst Yun Kim keeps a Buy rating and $500 price target on Microsoft (MSFT) ahead of its Q1 results. The firm is anticipating a “solid” quarter, with many of its key growth drivers showing at least modest acceleration and likely to continue to accelerate into the end of 2024, the analyst tells investors in a research note. Loop’s recent industry checks also continue to indicate a modest improvement in the IT spending environment in recent months as well as a healthy ramp of workloads from new cloud initiatives that have started since the beginning of the yea, the firm added.