2026년 2월 17일 · Unknown · financial · 출처 Yahoo Finance
Jefferies senior analyst Brent Thill takes a closer look at Microsoft's (MSFT) path for growth as it continues to be a key player in the AI race and how investors seem to be reacting, expecting an inflection point to materialize in the tech stock.
To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime.
Video Transcript
00:00 Speaker A
I want to end here uh on on a name, Brent, you know very well and that you like in the megacaps.
00:05 Speaker A
You like Microsoft. The stock's down about 16% already this year.
00:10 Speaker A
CEO not Satya Nadella, he comes to you, Brent. He says, Brent, how do I win back investors? How do I convince them, you know, I'm an AI winner? What would you tell him, Brent?
00:18 Brent
I'd say keep doing what you're doing. I mean, he's delivering on mid mid-teen growth, good healthy operating margins.
00:23 Brent
Think about this. They declared war on AI two, three years ago. They've improved their revenue growth, they've improved their backlog growth.
00:29 Brent
They've improved margins. Like, they're doing what they can do.
00:32 Brent
So the first thing is, you know, like, I'm I'm on my knees saying, hey, like, great job, congrats, right?
00:38 Brent
Like, they're doing fundamentally everything you could do.
00:41 Brent
The thing that that that you you would ask him to do is inflect and show faster Azure growth, faster uh, M365 growth.
00:49 Brent
Like, Microsoft's putting up high for high 30% uh infrastructure growth, uh a mid-teen uh M365 growth, putting up improving margins in the face of all this AI, and no one cares.
00:59 Brent
Like, it's crazy. Like, the numbers are stable. They're not, they're not going down. They're stable.
01:04 Brent
on a base that's huge.
01:06 Brent
And so, can Microsoft inflect at 20, 25% growth? I don't think so on these numbers.
01:11 Brent
So the the reality is that I think what investors want from him is something he may not be able to give you.
01:17 Brent
Right? We're seeing it in all the other sectors outside of tech, right? We're seeing other sectors uh or inside tech also inflect.
01:24 Brent
We're not seeing that. So I I I would say like I don't think there's anything on my wish list you could say other than can you accelerate your growth faster? And they've said we can't because we physically don't have enough data center space.
01:32 Brent
So, maybe they got to go buy a bunch of warehouses and convert them to DCs faster. I mean, that that's it, but
01:38 Brent
like, what's these numbers aren't bad. They're they're amazing numbers.
01:42 Brent
It's just investor expectations are Microsoft's going to get replaced with soon some new AI agent, they're not inflecting, so I'll just go buy SanDisk, Micron, and energy. I'll go somewhere else.
01:51 Speaker A
Brent, I had about
01:53 Brent
He can't he can't solve that.
01:53 Speaker A
I had about 10 other names I wanted to run by you, but I will save it for next time, my friend. Thank you as always for your time.
01:58 Speaker A
Appreciate it, sir.
01:59 Brent
Thank you.
View Comments