Microsoft's Strong Financial Performance and Strategic Growth in Cloud and Gaming Bolster Buy RecommendationWe expect higher revenue driven by the AI launch of 1Q25, known as Copilot Pages higher revenue driven by the AI launch of 1Q25, known as Copilot Pages or 365 subscribers, allowing AI-driven collaboration. This integrates into OneDrive, enhancing tasks like data analysis, presentations, summarizing meeting content, highlighting important emails, improving file search, and content analysis. Despite macro uncertainty, we see further upside potential in its cloud segment with MSFT as the market share gainer. Activision acquisition boosts the relatively underperforming PC segment. Activision acquisition boosts the relatively underperforming PC segment. MSFT’s acquisition of Activision contributed a net impact of c.3 points revenue growth.