While some momentum tapered off slightly, demand for secure cloud solutions in recent years drove significant growth for Microsoft, contributing to investment firm Wedbush's expectation that shares will climb during the next year, Markets Insider reported.
The current work-from-home environment "is further catalyzing more enterprises to make the strategic cloud shift with Microsoft across the board with Azure growth remaining brisk," analyst Dan Ives said in a note to clients.
The analyst firm pointed to cloud growth as one of a handful of tech trends that remained strong and even grew more prevalent amid economic challenges tied to the pandemic. Wedbush also pointed to the December cyberattack of SolarWinds as another catalyst for growth, as more customers scrambled to find proven cybersecurity offerings.
Google Cloud recently introduced Community Security Analytics (CSA), a set of open-sourced queries and rules for self-service security analytics geared toward helping security teams detect common cloud-based threats.