Microsoft Continues To Bank On Renewables For Datacenters
Zacks Investment Research | Nov 17, 2016 09:36PM ET
Shares of Microsoft Corporation (NASDAQ:MSFT) have been steadily scaling higher grounds over the last one year. The stock generated a return of 9.30% compared with the S&P 500 index's 7.01%.
The upside in the stock price of Microsoft was primarily driven by strong cloud growth. The continuing enterprise strength, benefits from the Office 365 subscription model, strong growth prospects of Azure and promising new products will continue to generate top-line growth in 2016.
Meanwhile, Microsoft recently announced that it has made its largest purchase of wind energy to date to power its data centers in the U.S. The company will utilize power from three wind farms. While two farms of Allianz (DE:ALVG) Risk Transfer AG will provide 178 megawatts of wind power, another farm owned by Black Hills Corporation will supply Microsoft with 59 megawatts of clean energy.
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