According to the latest research report from Bank of America, Microsoft's advantages in enterprise-level AI applications, security, and infrastructure have been further solidified due to the expansion of its Azure cloud business and the accelerated commercialization of Copilot. Bank of America predicts that Azure demand will continue to outstrip supply in fiscal year 2027, prompting an upward revision of Microsoft's profit forecasts for the next three years. It is expected that Microsoft's capital expenditures (including finance leases) will reach $220.7 billion in fiscal year 2027, representing a year-on-year increase of 51.9%, with annual revenue of approximately $391.9 billion and earnings per share of $19.70. Bank of America maintains a 'Buy' rating and a $600 target price for Microsoft.
