Bedrock Capital: 'Massively undervalued' Microsoft is the best megacap tech name
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Geoff Lewis, Bedrock Capital founder and managing partner, said this week that Microsoft (NASDAQ:MSFT) is the "best bet of the megacap tech companies."
In an interview with CNBC, Lewis added that the software giant is currently "massively undervalued" and argued that among all the megacap tech companies, Microsoft is most "exposed to the cutting edge of technological innovation" though it has been written off by many investors.
Lewis raised red flags about the other tech giants, such as Meta (META), Alphabet (GOOG) (GOOGL) and Amazon (AMZN). Lewis noted that META and Google get most of their revenue through advertising, a business model that he thinks are going to get disrupted. For Amazon, he stressed that the firm's revenue is still largely dependent on its retail operations.
Looking at the recent stock action, MSFT rose about 2% on Tuesday to close at $247.81. Over a period of one year, the stock has lost about 21%.
A quick comparison of the one-year performances of the tech giants with the broader market index:
Meanwhile, read a valuation analysis by Seeking Alpha contributor BeanKounter Capital, who says that "Microsoft's valuation is too rich for me right now at 26.7x earnings."