Shares of Microsoft (MSFT) are on the move.
Last checked the stock was up by $4.70 to $250.09. From here, we’d like to see the tech stock rally back to $280 again soon. All after inking a partnership with the London Stock Exchange, as part of a deal that will see the market operator spend about $2.8 billion over a 10-year period on Microsoft cloud services.
The partnership “creates attractive revenue growth opportunities for both companies,” LSEG CEO David Schwimmer said, as quoted by CNN. “This strategic partnership is a significant milestone on LSEG’s journey towards becoming the leading global financial markets infrastructure and data business, and will transform the experience for our customers.”
Helping, Microsoft was just named one of the “Top of the Crop” stocks for 2023, according to Credit Suisse. Analysts believe MSFT can continue gaining market share in the cloud infrastructure market. They also expect MSFT to grow its high-margin Office 360 subscriptions.
