Microsoft Continues to Evolve Into a Cloud Leader; Shares Undervalued vs. Our $125 FVE
We believe Microsoft is a blue-chip technology stock that offers approximately 15% EPS growth in each of the next several years, powered by impressive 11%-12% top-line growth. We maintain our wide moat and stable moat trend ratings for Microsoft, and although we are lowering our fair value estimate to $125 per share from $130, we still view the shares as modestly undervalued. Our fair value estimate implies a price/earnings of 25 times on fiscal 2020 EPS.Since taking over as CEO in 2014, Satya...
Microsoft is a technology company. The company develops and supports software, services, devices, and solutions. The company provides an array of services, including cloud-based solutions as well as solution support and consulting services. The company also delivers relevant online advertising. The company's products include operating systems; cross-device productivity applications; server applications; business solution applications; desktop and server management tools; software development tools; and video games. The company also designs, manufactures, and sells devices, including personal computers, tablets, gaming and entertainment consoles, other devices, and related accessories.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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