Pandemic is 'zeitgeist moment' for cloud, Microsoft to top $2 trillion in 2 years, Wells Fargo says

Satya Nadella, chief executive officer of Microsoft Corp., pauses while speaking during a Microsoft product event in New York, U.S., on Wednesday, Oct. 2, 2019.
Mark Kauzlarich | Bloomberg | Getty Images

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The coronavirus crisis accelerated corporate America's need for cloud infrastructure, positioning Microsoft's Azure cloud business to drive revenue and market value in the coming years, according to Wells Fargo. 

The Wall Street firm — which has an overweight rating on the Satya Nadella-led technology giant — believes Microsoft's market capitalization can top $2 trillion in the next few years due to strength in its cloud business.