On October 29, Microsoft Corporation (NASDAQ:MSFT) announced its fiscal Q1 2022 results and reported revenue of $45.3 billion, up 21.8% from the prior-year quarter. Recently, Wells Fargo initiated its coverage on Microsoft Corporation (NASDAQ:MSFT) with an Overweight rating and a $400 price target. The firm's analyst noted that the company still has a bright future ahead as it has continued growth opportunities in its IT sector.