Microsoft Corp. (Nasdaq: MSFT) is one of our favorite tech stocks to buy at Money Morning, and it just traded at an all-time high of $98.69 on May 14.
And even at a record-high price, Money Morning Defense and Tech Specialist Michael A. Robison believes it’s still a great time to buy MSFT stock.
Robinson has been an investing expert for over three decades. He is a top tech journalist and analyst who has been ahead of just about every emerging technology story over the past 10 years.
He even has a Pulitzer Prize nomination.
Why We Are Bullish on MSFT Stock Right Now
Microsoft’s involvement in cloud computing, legal cannabis, and cryptocurrencies will generate a lot of revenue, and more money can lead to a higher share price.
Microsoft’s Azure cloud offers storage, analytics, machine learning, and developer tools. In Q2 2018, the tech giant reported commercial cloud revenue climbed 56% year over year, to $5.3 billion.
Microsoft didn’t specify how much revenue Azure brought in, but MSFT said it had revenue growth of 98% over the last year.
Through the cloud business, Microsoft is also an early player in the legal marijuana industry.
In fact, it partnered with a startup called Kind in 2016.
Kind offers cannabis-tracking software that monitors seed-to-sale production for growers, sellers, and government agencies. This will help growers and sellers stay compliant with new laws, and it will also help keep marijuana off of the black market.
And with 30 states and the District of Columbia having some form of legalized marijuana, the need for this service is going to be huge.
Legal marijuana sales in North America totaled $10 billion in 2017, and that’s expected to skyrocket 145%, to $24.5 billion, by 2021.