Goldman Sachs has lowered its price target for Microsoft Corp. to $450 from $500, while maintaining a Buy rating on the stock. The investment bank highlighted Microsoft's potential in artificial intelligence, particularly noting expected Azure cloud revenue growth of 31% in U.S. dollar terms, which aligns with consensus estimates. This adjustment reflects ongoing macroeconomic uncertainties despite Microsoft's anticipated execution against revenue growth estimates of 11%. Meanwhile, Morgan Stanley also revised its Azure growth forecasts for Microsoft, reducing the third-quarter estimate to 31% from 31.5% and the fourth-quarter estimate to 30% from 32%, citing broader macroeconomic concerns. Both firms acknowledge Microsoft's strong position in generative AI but remain cautious due to economic headwinds.