Goldman Sachs adds Microsoft to US Conviction List, keeps $640 target

Goldman Sachs added Microsoft to its U.S. Conviction List on August 4, 2026, and removed Broadcom, Johnson & Johnson and ServiceNow in the same update. The firm kept its $640 price target, which was well above the $487.65 share price cited in the coverage. The note pointed to Azure growth of 43% and crossing $100 billion in annual revenue, and to Microsoft 365 Copilot reaching 30 million paid seats.

• Added to Goldman US Conviction List (August 4, 2026)
• Price target $640, maintained; stock cited at $487.65
• Azure grew 43% and passed $100 billion in annual revenue
• Microsoft 365 Copilot at 30 million paid seats