Self-driving cars a huge market

Article Excerpt

MICROSOFT CORP. $235 is a buy. The company (Nasdaq symbol MSFT; High-Growth Dividend Payer Portfolio, Manufacturing & Industry sector; Shares outstanding: 7.6 billion; Market cap: $1.8 trillion; Dividend yield: 1.0%; Dividend Sustainability Rating: Highest; www.microsoft.com) last increased your quarterly dividend by 9.8% in December 2020. The new annual rate of $2.24 a share yields 1.0%. Microsoft has agreed to invest an undisclosed sum in Cruise, a subsidiary of General Motors Corp. (New York symbol GM) . Cruise is developing self-driving cars and will use Microsoft’s Azure cloud-computing platform to help manage fleets of taxis and delivery vans. GM will also use the company’s software to streamline its supply chains. This investment will help Microsoft profit from the emerging market for self-driving cars. It could be worth several trillion dollars globally by 2030. Microsoft is a buy. buy…