Wall Street's top analysts see stocks like Microsoft and Etsy as work-from-home beneficiaries

of $260 on Microsoft, suggesting further upside potential of over 25%. Ives made the bullish call on July 22 following Microsoft's June results with headline numbers that came in above Street expectations.

Total revenues came in at $38 billion, up 13% year-over-year, compared to the Street at $36.5 billion. Non-GAAP earnings per share of $1.46 easily beat the Street's $1.34 estimate with operating margins of 35.3% versus Street estimates at 35.6%. "Cloud continuing to rock & roll," exclaimed Ives, noting that "this current remote work from home environment is further catalyzing more enterprises to make the strategic cloud shift with Microsoft the main beneficiary as evidenced by the solid results."has roughly a third of its revenue exposed to PCs and supply chain, the vast majority of its revenue and 80% to 90% of its valuation is based on its flagship Azure, Office 365, and core enterprise driven franchise.

And that's good news because Ives believes that this cloud shift and work-from-home dynamic is here to stay. With 33% of workloads in the cloud today poised to hit 55% by 2022, he calculates that the work-from-home shift could clearly accelerate the cloud trend by roughly a year. "In a nutshell, Nadella & Co. continue to lead a transformational cloud story narrowing the gap vs. Bezos and AWS into 2021" Ives said.

The analyst is ranked at No. 211 out of 6,813 analysts covered by TipRanks thanks to his strong stock picking skills.

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