Overview

• The European Commission accepted Microsoft’s commitments over Teams bundling, making the remedies enforceable under EU antitrust rules.
• Microsoft will sell lower‑priced Office and M365 suites without Teams and allow customers with long‑term licenses to switch to those versions.
• The plan requires interoperability with competing collaboration tools and lets customers move their Teams data to other platforms.
• Truist reaffirmed a Buy rating with a $675 price target, citing the revised OpenAI partnership, with reports also highlighting a $17.4 billion Nebius AI infrastructure deal to secure capacity.
• Morgan Stanley reiterated Overweight after Microsoft lifted its quarterly dividend 10% to $0.91, pointing to a durable strong‑teens total return outlook and noting over $55 billion in remaining share repurchase authorization.