Latest news with #KimForrest
Yahoo
31-07-2025
- Business
- Yahoo
Microsoft Hits $4 Trillion Market Cap After Earnings Beat
(Bloomberg) -- Microsoft Corp. has become the second company in the world to reach a $4 trillion market capitalization after reporting quarterly earnings that beat Wall Street's expectations, sending the stock soaring in premarket Thursday. The World's Data Center Capital Has Residents Surrounded An Abandoned Art-Deco Landmark in Buffalo Awaits Revival We Should All Be Biking Along the Beach Budapest's Most Historic Site Gets a Controversial Rebuild San Francisco in Talks With Vanderbilt for Downtown Campus Shares of the technology behemoth jumped as much as 8.2% in early trading in New York, pushing its market value to $4.1 trillion. Nvidia Corp. became the first company to hit the milestone earlier this month. 'Microsoft is getting the recognition that it deserves because it is the operating system for business. All of us run our businesses on Microsoft with Word, with Outlook, with Excel,' said Kim Forrest, chief investment officer at Bokeh Capital Partners LLC. 'This quarter's results point to an even better position for Microsoft because, like Nvidia, there appear to be no substitutes.' The company's latest results confirmed that it's a leader in the artificial intelligence boom that's lifted megacap tech stocks, and the broader market, for the last few years. Microsoft reported better-than-expected growth in its cloud business, and its closely-watched Azure cloud-computing unit posted a 39% rise in sales, handily beating the 34% analysts expected. On a call with analysts, Chief Financial Officer Amy Hood said Microsoft expects fiscal first quarter capital expenditures at more than $30 billion, and full year revenue growth in the double digits. In addition, Azure is expected to post a 37% growth rate in the first quarter, above forecasts. Investors are welcoming outsized spending on AI infrastructure. Meta Platforms Inc. also lifted the low end of its forecast for 2025 capital expenditures and provided an early steer on 2026 spending. Shares in the Facebook-owner rallied as much as 13%, adding more than $223 billion to the social media giant's market cap — if gains hold, this would be its biggest single-day market value addition ever. The stocks are the second and third-best performers among the so-called Magnificent Seven mega tech stocks this year. Since its April 8 trough when President Donald Trump's sweeping tariff threats spurred a broader market selloff, the stocks surged more than 50% and are trading at record highs. This year has marked something of a rebound for Microsoft stock. It had lagged its peers in 2024 and the first quarter of 2025, the only Magnificent Seven stock in the red for that period, as investors grew concerned about its AI position and Azure growth. Wall Street is largely bullish on Microsoft shares, with 68 of the 72 analysts covering the company giving it a buy rating and one giving it a sell, according to data compiled by Bloomberg. (Updates chart and stock moves in second paragraph, adds details in seventh.) Russia Builds a New Web Around Kremlin's Handpicked Super App Burning Man Is Burning Through Cash Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
31-07-2025
- Business
- Yahoo
Microsoft Hits $4 Trillion Market Cap After Earnings Beat
(Bloomberg) -- Microsoft Corp. has become the second company in the world to reach a $4 trillion market capitalization after reporting quarterly earnings that beat Wall Street's expectations, sending the stock soaring in premarket Thursday. The World's Data Center Capital Has Residents Surrounded An Abandoned Art-Deco Landmark in Buffalo Awaits Revival Budapest's Most Historic Site Gets a Controversial Rebuild We Should All Be Biking Along the Beach San Francisco in Talks With Vanderbilt for Downtown Campus Shares of the technology behemoth jumped as much as 8.2% in early trading in New York, pushing its market value to $4.1 trillion. Nvidia Corp. became the first company to hit the milestone earlier this month. 'Microsoft is getting the recognition that it deserves because it is the operating system for business. All of us run our businesses on Microsoft with Word, with Outlook, with Excel,' said Kim Forrest, chief investment officer at Bokeh Capital Partners LLC. 'This quarter's results point to an even better position for Microsoft because, like Nvidia, there appear to be no substitutes.' The company's latest results confirmed that it's a leader in the artificial intelligence boom that's lifted megacap tech stocks, and the broader market, for the last few years. Microsoft reported better-than-expected growth in its cloud business, and its closely-watched Azure cloud-computing unit posted a 39% rise in sales, handily beating the 34% analysts expected. On a call with analysts, Chief Financial Officer Amy Hood said Microsoft expects fiscal first quarter capital expenditures at more than $30 billion, and full year revenue growth in the double digits. In addition, Azure is expected to post a 37% growth rate in the first quarter, above forecasts. The stock is the third-best performer among the so-called Magnificent Seven mega tech stocks this year. Since its April 8 trough when President Donald Trump's sweeping tariff threats spurred a broader market selloff, the stock surged nearly 53% to and is trading at a record high. This year has marked something of a rebound for Microsoft stock. It had lagged its peers in 2024 and the first quarter of 2025, the only Magnificent Seven stock in the red for that period, as investors grew concerned about its AI position and Azure growth. Wall Street is largely bullish on Microsoft shares, with 68 of the 72 analysts covering the company giving it a buy rating and one giving it a sell, according to data compiled by Bloomberg. The average 12-month price target of $602 implies upside of about 11%. --With assistance from Subrat Patnaik. (Updates chart and stock moves in second paragraph, adds details in paragraph seven) Russia Builds a New Web Around Kremlin's Handpicked Super App Burning Man Is Burning Through Cash Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts ©2025 Bloomberg L.P. Sign in to access your portfolio
Time of India
31-07-2025
- Business
- Time of India
Microsoft set to hit $4 trillion market cap after earnings beat
Microsoft Corp. is set to become the second company in the world to reach a $4 trillion market capitalization after reporting quarterly earnings that beat Wall Street's expectations, sending the stock soaring in extended trading Wednesday. Shares of the technology behemoth jumped as much as 9% to more than $560 in late New York trading, and if even a portion of the gain holds through Thursday's market open, Microsoft will reach a market value of $4 trillion. Nvidia Corp. became the first company to hit the milestone earlier this month. 'Microsoft is getting the recognition that it deserves because it is the operating system for business. All of us run our businesses on Microsoft with Word, with Outlook, with Excel,' said Kim Forrest, chief investment officer at Bokeh Capital Partners LLC. 'This quarter's results point to an even better position for Microsoft because, like Nvidia, there appear to be no substitutes.' The company's latest results confirmed that it's a leader in the artificial intelligence boom that's lifted megacap tech stocks, and the broader market, for the last few years. Microsoft reported better-than-expected growth in its cloud business, and its closely-watched Azure cloud-computing unit posted a 39% rise in sales, handily beating the 34% analysts expected. On a call with analysts, Chief Financial Officer Amy Hood said Microsoft expects fiscal first quarter capital expenditures at more than $30 billion, and full year revenue growth in the double digits. In addition, Azure is expected to post a 37% growth rate in the first quarter, above forecasts. The stock is the second-best performer among the so-called Magnificent Seven mega tech stocks this year. Since its April 8 trough when President Donald Trump's sweeping tariff threats spurred a broader market selloff, the stock has surged nearly 45% to close just shy of a record high ahead of its Wednesday earnings report. This year has marked something of a rebound for Microsoft stock. It had lagged its peers in 2024 and the first quarter of 2025, the only Magnificent Seven stock in the red for that period, as investors grew concerned about its AI position and Azure growth. Wall Street is largely bullish on Microsoft shares, with 65 of the 72 analysts covering the company giving it a buy rating and one giving it a sell, according to data compiled by Bloomberg. The average 12-month price target of $554 implies upside of about 8% from Wednesday's close.
South China Morning Post
31-07-2025
- Business
- South China Morning Post
Microsoft nears US$4 trillion market cap as earnings beat expectations
Microsoft is set to become the second company in the world to reach a US$4 trillion market capitalisation after reporting quarterly earnings that beat Wall Street's expectations, sending the stock soaring in extended trading Wednesday. Shares of the technology behemoth jumped as much as 9 per cent to more than US$560 in late New York trading, and if even a portion of the gain holds through Thursday's market open, Microsoft will reach a market value of US$4 trillion. 'Microsoft is getting the recognition that it deserves because it is the operating system for business. All of us run our businesses on Microsoft with Word, with Outlook, with Excel,' said Kim Forrest, chief investment officer at Bokeh Capital Partners. 'This quarter's results point to an even better position for Microsoft because, like Nvidia, there appear to be no substitutes.' The company's latest results confirm that it is a leader in the artificial intelligence boom that has lifted megacap tech stocks, and the broader market, for the last few years.
CNBC
25-07-2025
- Business
- CNBC
Wall Street barrels toward a big week: Fed meeting, Mag 7 earnings, jobs report, trade deadline
So long, summer doldrums. A stock market at all-time highs could be shaken up in a big way next week. Federal Reserve policymakers are convening for their July meeting at a time when central bank independence is in question. More of the Magnificent Seven companies are set to report and answer critical questions about artificial intelligence spending. Major economic data around jobs and inflation are on deck, and a key August trade deadline looms. That chain of calendar events has the potential to rock a market that's so far enjoyed a summer respite, with the S & P 500 on pace by week's end to close at a new all-time high every day this week. Volatility has been muted all month, despite dramatic economic and political headlines. This week, the S & P 500 closed above 6,300 for the first time ever. On Monday, the Magnificent Seven stocks posted their longest advance since 2023. Next week has the potential to upset the apple cart, however. "What isn't happening in this week? That is what I want to know," said Kim Forrest, founder at Bokeh Capital. Whether the rally continues could very well rest on what unfolds in the coming week. There are already faint signs of the rally running out of steam. Opendoor Technologies, an online real estate stock that was touted by hedge fund manager Eric Jackson, enjoyed a meteoric surge Monday on speculative fervor, before fizzling Tuesday — a telling signal. Skeptics are out there. BTIG's chief market technician Jonathan Krinsky, for example, said this week that the last time the Nasdaq-100 index went 60 straight days without closing below its 20-day moving average, a short-term trend indicator, was in 1999, just before the dot-com bubble burst. That technical setup, plus the start of a seasonally weak period for stocks, coupled with all manner of macroeconomic, fiscal and monetary headwinds, makes for a tenuous setup heading into August. "The main takeaway is that we may encounter some turbulence, even though it's unlikely to mark a major peak," BTIG's Krinsky wrote. Fed meeting Wall Street's focus on next week's meeting of the Federal Reserve, the last until September, and the status of Fed Chair Jerome Powell, is likely to be more heated than usual after President Donald Trump's latest threats against the Fed chief and their joint tour Thursday of the Fed's Washington headquarters construction project. Trump appeared to tone down his fiercest rhetoric against Powell this week, saying the Fed chair is "going to be out pretty soon anyway." But Powell is certain to be grilled by reporters on the future independence of the central bank during the question-and-answer portion of his post-meeting press conference next Wednesday. The Federal Reserve is almost universally expected to hold its benchmark borrowing rate in a range between 4.25% and 4.50% at the conclusion of next week's two-day policy meeting, according to interest rate futures traded at the CME Group . Magnificent Seven AI spending The stock market's trajectory will also depend on the Magnificent Seven companies, four of which report their latest financial results next week: Meta Platforms and Microsoft are out on Wednesday, while Amazon and Apple release their quarterly numbers on Thursday. What the companies say about AI spending will be critical for the market. Much of the stock market's rise this year can be attributed to the torrent of capital spending from the companies known as hyperscalers, which is supposed to top $350 billion in 2025. But with the possible profits from AI still unknown, questions remain on whether the investments can be justifed. Investors will want to hear clear strategies from the hyperscalers . Meta Platforms recently raised eyebrows when it went on a spending spree, including the hiring of key AI experts such as Alexandr Wang from Scale AI as part of a $14 billion deal. Investors will also want to know more about Azure, the linchpin to Microsoft's AI ambitions. Growth in Amazon's cloud business will also be a center of attention. Jobs report, inflation data Next Friday's jobs report will come after few if any signs of cracks in the labor market from Trump's tariffs. Still, the July nonfarm payrolls report will likely show a deceleration. Economists polled by FactSet anticipate the U.S. economy added 115,000 jobs in July, down from 147,000 in June. The unemployment rate is expected to have edged up to 4.2% from 4.1%. The personal consumption expenditure price index is expected to show inflation rising, to 2.4% from 2.3% on an annual basis, and to 0.31% from 0.14% on a monthly basis, according to FactSet. Aug. 1 trade deadline Finally, Wall Street is still wading through Trump's erratic trade policies. Many expect that the Friday Aug. 1 deadline to raise tariffs, which Commerce Secretary Howard Lutnick this week called a "hard deadline," will nevertheless remain flexible as the White House continues to negotiate . Week ahead calendar All times ET. Monday, July 28 10:30 a.m. Dallas Fed Index Earnings: Waste Management, Universal Health Services, Nucor, Cincinnati Financial Tuesday, July 29 8:30 a.m. Wholesale Inventories preliminary (June) 9:00 a.m. FHFA Home Price Index (May) 9:00 a.m. S & P/Case-Shiller comp.20 HPI (May) 10:00 a.m. Consumer Confidence (July) 10:00 a.m. JOLTS Job Openings (June) Earnings: Seagate Technology, Starbucks, Mondelez International, Electronic Arts, Booking Holdings, Visa, Republic Services, PPG Industries, Caesars Entertainment, Sysco, Norfolk Southern, Hubbell, Corning, American Tower, Royal Caribbean Group, Merck & Co., United Parcel Service, Stanley Black & Decker, UnitedHealth Group, PayPal Holdings, Procter & Gamble, Ecolab, Boeing Wednesday, July 30 10:00 a.m. Pending Home Sales Index (June) 2:00 p.m. FOMC Meeting 2:00 p.m. Fed Funds Target Upper Bound Earnings: MGM Resorts International, Lam Research, Ford Motor, C.H. Robinson Worldwide, Qualcomm, Align Technology, Western Digital, Tyler Technologies, Public Storage, Prudential Financial, Microsoft, Meta Platforms, Mid-America Apartment Communities, Invitation Homes, F5, FirstEnergy, Extra Space Storage, DexCom, AvalonBay Communities, Albemarle, Hess, Altria Group, Hershey, Humana, Old Dominion Freight Line, Kraft Heinz, Generac Holdings, GE Healthcare Technologies, Automatic Data Processing, Allstate Thursday, July 31 8:30 a.m. Continuing Jobless Claims (07/19) 8:30 a.m. ECI Civilian Workers (Q2) 8:30 a.m. Initial Claims (07/26) 8:30 a.m. PCE Deflator (June) 8:30 a.m. Personal Consumption Expenditure (June) 8:30 a.m. Personal Income (June) 9:45 a.m. Chicago PMI (June) Earnings: Apple, Clorox, Amazon, KLA, Edison International, Monolithic Power Systems, Ingersoll Rand, First Solar, Coinbase Global, Kellanova, Huntington Ingalls Industries, Howmet Aerospace, Vulcan Materials, Comcast, Bristol Myers Squibb, Quanta Services, KKR & Co., Norwegian Cruise Line Holdings, CVS Health, CMS Energy, Cigna Group, PG & E, Air Products & Chemicals, Mastercard, International Paper, Biogen, AbbVie Friday, Aug. 1 8:30 a.m. Hourly Earnings preliminary (July) 8:30 a.m. Average Workweek preliminary (July) 8:30 a.m. Manufacturing Payrolls (July) 8:30 a.m. Nonfarm Payrolls (July) 8:30 a.m. Participation Rate (July) 8:30 a.m. Private Nonfarm Payrolls (July) 8:30 a.m. Unemployment Rate (July) 9:45 a.m. S & P PMI Manufacturing final (July) 10:00 a.m. Construction Spending (June) 10:00 a.m. ISM Manufacturing (July) 10:00 a.m Michigan Sentiment final (July) Earnings: T. Rowe Price Group, Colgate-Palmolive, Exxon Mobil, Regeneron Pharmaceuticals, Moderna, Kimberly-Clark, Chevron — CNBC's Jeff Cox, Yun Li and Samantha Subin contributed to this report.
