研报掘金丨中金:上调微软目标价至586美元 长期看好其在AI科技革命中的深度协同效应

格隆汇资讯
Nov 03, 2025

中金发表报告指,微软2026财年第一季总营业收入按年增长18%至777亿美元,好过市场和该行预期的增长15%,GAAP口径净利润按年增长13%至277亿美元,符合预期,由于本季度包括Azure、M365、Windows 以及搜索在内的AI产品需求继续走强,最终的业绩好于该行和市场的预期。该行指长期看好微软在AI科技革命中的深度协同效应,考虑到微软云收入仍具有较大增长潜力,上调公司2026和2027...

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