Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Microsoft's Fiscal Year 2024 Third Quarter Earnings revealed that Microsoft continues to leverage and further deploy artificial intelligence (AI) initiatives and solutions through its cloud ecosystem.</li><li>It underscores Microsoft's strategic direction in intensifying its capabilities in artificial intelligence and cloud infrastructures based on market needs, with Satya Nadella, Chairman and Chief Executive Officer of Microsoft, pointing out the continuing success of Microsoft Cloud surpassing $35 billion in revenue, a growth of 23%.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Microsoft's Fiscal Year 2024 Third Quarter Earnings revealed that Microsoft continues to leverage and further deploy artificial intelligence (AI) initiatives and solutions through its cloud ecosystem.It underscores Microsoft's strategic direction in intensifying its capabilities in artificial intelligence and cloud infrastructures based on market needs, with Satya Nadella, Chairman and Chief Executive Officer of Microsoft, pointing out the continuing success of Microsoft Cloud surpassing $35 billion in revenue, a growth of 23%.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Microsoft Corporation: Will The Cloud & AI Infrastructure Investment & The Introduction Of New AI Models Give It An Edge Over Alphabet & Other Rivals? - Major Drivers

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul><li>Microsoft reported (26 Apr BJT) better-than-expected 3QFY24 (June year-end) results: revenue was US$61.9bn, up 17% YoY (2QFY24: +18% YoY; 3QFY23: +7% YoY), 2% better than Bloomberg consensus driven by better-thanexpected revenue growth in Intelligent Cloud (IC) and More Personal Computing (MPC) business; net income was up 20% YoY to US$21.9bn, 4% ahead of consensus estimates, thanks to stringent cost control and improvement in operating leverage.</li><li>Management highlighted that AI related demand remained strong, and guided to further increase investments in capex to fulfil the unmet demand.</li><li>Although the incremental investments and consolidation of Blizzard are likely to weigh on margin, management still expects at least 2pp YoY OPM expansion for FY24, aided by operating efficiency improvement. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Microsoft reported (26 Apr BJT) better-than-expected 3QFY24 (June year-end) results: revenue was US$61.9bn, up 17% YoY (2QFY24: +18% YoY; 3QFY23: +7% YoY), 2% better than Bloomberg consensus driven by better-thanexpected revenue growth in Intelligent Cloud (IC) and More Personal Computing (MPC) business; net income was up 20% YoY to US$21.9bn, 4% ahead of consensus estimates, thanks to stringent cost control and improvement in operating leverage.Management highlighted that AI related demand remained strong, and guided to further increase investments in capex to fulfil the unmet demand.Although the incremental investments and consolidation of Blizzard are likely to weigh on margin, management still expects at least 2pp YoY OPM expansion for FY24, aided by operating efficiency improvement. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Microsoft (MSFT US) - AI Related Demand Remained Strong

<ul><li>Microsoft is the consensus AI thematic pick among the global tech companies.</li><li>Its cohesive product portfolio, exclusive partnership with OpenAI, large consumer user base and business customer base, as well as R&amp;D leadership all present new business development opportunities amid the generative AI wave.</li><li>We are constructive on Microsoft’s long-term growth potential, and believe that Microsoft is poised for further market share gains for all its key product portfolio with the empowerment of generative AI. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Microsoft is the consensus AI thematic pick among the global tech companies.Its cohesive product portfolio, exclusive partnership with OpenAI, large consumer user base and business customer base, as well as R&amp;D leadership all present new business development opportunities amid the generative AI wave.We are constructive on Microsoft’s long-term growth potential, and believe that Microsoft is poised for further market share gains for all its key product portfolio with the empowerment of generative AI. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Microsoft (MSFT US) - AI and Copilot Unlocking Growth Potential

<ul><li>Microsoft Corporation reported strong financial performance for its second quarter fiscal year 2024.</li><li>The company attributed this success primarily to the continued growth of its Microsoft Cloud segment, which surpassed $33 billion in revenue, marking a 24% increase.</li><li>Microsoft Cloud's success largely stemmed from the efficient application of Artificial Intelligence across different sectors.</li></ul>

Microsoft Corporation reported strong financial performance for its second quarter fiscal year 2024.The company attributed this success primarily to the continued growth of its Microsoft Cloud segment, which surpassed $33 billion in revenue, marking a 24% increase.Microsoft Cloud's success largely stemmed from the efficient application of Artificial Intelligence across different sectors.

Microsoft Corporation: AI Infrastructure Investments & Growing Cloud Demand Are Indicators Of A Bright Future - Major Drivers

Fundamental Principles of the Stock Market, From 0 to 1 in the Stock Market

From 0 to 1 in the Stock Market

Fundamental Principles of the Stock Market

Fundamental principles of the stock market, earnings reviews and research. My name is Giuliano Mana, I’m 23 years old. I have a B.A Degree in Finance and I’m a Master’s candidate at Brandeis IBS. I’ve been thoroughly going over huge amounts of reading material regarding the stock market and hope to transmit some insights here.

<div data-attrs='{"url":"https://www.0to1stockmarket.com/subscribe?","text":"Subscribe","language":"en"}' data-component-name="SubscribeWidgetToDOM"><div><form class="subscription-widget-subscribe"><div><ul><li><span style="font-size: var(--content-font-size);">Microsoft reported results on January 30</span><sup>th</sup><span style="font-size: var(--content-font-size);">. The company generated revenue in excess of 62bn dollars during the fourth quarter of 2023, increasing 17% on a yearly basis and exhibiting a 4yr CAGR of 13.8%. </span></li><li><span style="font-size: var(--content-font-size);">It’s worth highlighting that Activision contributed to 4pp of revenue growth. </span></li><li><span style="font-size: var(--content-font-size);">During July, a court filing was leaked, which illustrated </span>management’s self-stated ambition<span style="font-size: var(--content-font-size);"> for the next decade.</span></li></ul></div></form></div></div>

Microsoft reported results on January 30th. The company generated revenue in excess of 62bn dollars during the fourth quarter of 2023, increasing 17% on a yearly basis and exhibiting a 4yr CAGR of 13.8%. It’s worth highlighting that Activision contributed to 4pp of revenue growth. During July, a court filing was leaked, which illustrated management’s self-stated ambition for the next decade.

United States

Microsoft Corporation operates as a software company. The Company offers applications, extra cloud storage, and advanced security solutions. Microsoft serves customers worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Microsoft Corp (MSFT US)

Microsoft Corporation: Will The Cloud & AI Infrastructure Investment & The Introduction Of New AI Models Give It An Edge Over Alphabet & Other Rivals? - Major Drivers

Microsoft's Fiscal Year 2024 Third Quarter Earnings revealed that Microsoft continues to leverage and further deploy artificial intelligence (AI)...

Baptista Research

Microsoft (MSFT US) - AI and Copilot Unlocking Growth Potential

Our DCF valuation method values Microsoft at US$473.6 per share, which translates into 39.7x/33.3x FY24/25E PE. Initiate at BUY.

CMB International

Microsoft Corporation: AI Infrastructure Investments & Growing Cloud Demand Are Indicators Of A Bright Future - Major Drivers

Microsoft Corporation reported strong financial performance for its second quarter fiscal year 2024. The company attributed this success primarily...

Baptista Research

Microsoft Q2 Earnings Review

The company generated revenue in excess of 62bn dollars during the fourth quarter of 2023, increasing 17% on a yearly basis and exhibiting a 4yr...

From 0 to 1 in the Stock Market

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Microsoft Corporation: Will The Cloud & AI Infrastructure Investment & The Introduction Of New AI Models Give It An Edge Over Alphabet & Other Rivals? - Major Drivers

Microsoft's Fiscal Year 2024 Third Quarter Earnings revealed that Microsoft continues to leverage and further deploy artificial intelligence (AI)...

Baptista Research

Microsoft (MSFT US) - AI Related Demand Remained Strong

Microsoft reported (26 Apr BJT) better-than-expected 3QFY24 (June year-end) results: revenue was US$61.9bn, up 17% YoY (2QFY24: +18% YoY; 3QFY23:...

CMB International

Microsoft (MSFT US) - AI and Copilot Unlocking Growth Potential

Our DCF valuation method values Microsoft at US$473.6 per share, which translates into 39.7x/33.3x FY24/25E PE. Initiate at BUY.

CMB International

Microsoft Corporation: AI Infrastructure Investments & Growing Cloud Demand Are Indicators Of A Bright Future - Major Drivers

Microsoft Corporation reported strong financial performance for its second quarter fiscal year 2024. The company attributed this success primarily...

Baptista Research

Microsoft Q2 Earnings Review

The company generated revenue in excess of 62bn dollars during the fourth quarter of 2023, increasing 17% on a yearly basis and exhibiting a 4yr...

From 0 to 1 in the Stock Market