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Analyst revisits Microsoft stock price target amid AI spending ramp

TheStreet
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90% Informative

Microsoft shares edged lower in early Friday trading, but remain on pace for a solid weekly gain.

The tech giant missed Wall Street's consensus forecast of $25.8 billion for the three months ended in June .

The group's flagship cloud division, its biggest growth driver, posted revenue growth of 29% .

Capital spending for the quarter rose 77.6% from a year earlier to $19 billion .