Stifel's Brad Reback said Microsoft's Azure growth is beating expectations and could stay above 50% in the near term and well above 40% for the foreseeable future, supported by enterprise demand and OpenAI. He said the results increase confidence that Microsoft can sustain mid-to-upper teens revenue growth. Reback called the $25 billion bond offering, its first high-grade bonds in more than nine years, a move made from a position of strength, as Microsoft was guided to remain free cash flow positive and has about $10 billion of debt coming due. He said Oracle carries more risk because its cash flow is negative and it is concentrated on one customer, OpenAI, while Microsoft has a broader business including M365 Copilot.
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Related tickers and likely impact
MSFT
▲ Likely positiveMicrosoft
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Systems Software |
| Market cap | $3.9T |
| Close on 10/28/2026 | 530.83 |
| Change that session | -0.09% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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