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.
Published first on TheFly
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