金吾财讯 | 法国巴黎银行分析师在投资者电话会议上表示，Copilot升级与Azure业务将成为微软（MSFT）股价重要催化因素。Copilot“红色代码”计划将于5月1日推出E7套件，年内还将上线Agent Mode等多项功能，产品反馈持续改善。
分析师指出，市场担忧 SaaS市场疲软、Copilot进展不及预期，以及微软卷入AI算力竞赛或影响Azure份额。数据显示，微软上季度新增算力约30%用于内部AI应用。该行认为，即便半数算力自用，Azure仍有望超预期，GPU价格上涨也将支撑其定价。
随着资本支出增速放缓、自由现金流利润率维持高位，叠加 Copilot信心修复，微软股价有望重回上涨趋势。该股周五盘前基本持平，整体走势偏强。
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