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해외 종목분석
해외 주식 개별종목 분석
Microsoft - Feb 16, 2024
Summary of Recent IR (FY24Q2, 24.1/30) All three business areas are showing high growth rates of 12~18% on a non-GAAP basis. The operating profit margin is 44%, which is a remarkable figure. Next quater's revenue outlook is similar to last quater. However, the GEN AI effect can not be measured at present, so it can not be included in the forecast. Opportunities In addition to high growth rates and operating profit margin, MSFT has a prime level of barrier to entry - There is no substitute for MS Office 365 and Window OS; Teams and Cloud service have locked B2B customers in. They do all their business this way; monopoly or oligopoly. Since the end of 2023, when OpenAI launched ChatGPT and it became knowned that Microsoft is a major investor in Open AI, Microsoft stock has risen. The market belives that Microsoft will become the winner in the coming AI era by appying Gen AI technology to existing businesses as well as new businesses. The reason Gen AI is powerful is because it can increase productivity, which is Microsoft's main focus. In February, Bloomberg reported that Microsoft and OpenAI have been considering to invest in Figure, a humanid startup. We can see that Microsoft is ready to go beyond productivity. If it succeeds in commercializing Humanied for general consumers, it could threaten Apple's position.