US Data's Impressive Growth and Strategic Positioning Justifies Buy Rating by Tristan GerraWe initiated coverage of Microsoft this week. We believe MSFT is positioned to continue to grow revenue double- digits at significant scale, which we expect to stack up well relative to the broader market. While the stock has performed well YTD, it is off its recent highs on AI capex and cycle concerns, and we like the near- and long-term position.