Analyst Karl Keirstead, formerly at BMO, likes Microsoft's valuation, thinks (like Evercore) the company doesn't get enough credit for its enterprise ops amid PC concerns, and is hopeful a new CEO will cut costs.
Regarding Oracle, Keirstead thinks concerns about share loss to cloud app providers are priced in at a valuation of 11x 2015E EPS, and thinks app weakness can be offset by database strengths. It's worth noting some think database sales will also be pressured by cloud adoption.
Keirstead believes "the near-term set-up is not ideal" for Salesforce, even if the company remains "an attractive medium-term play on the cloud computing trend." He cites slowing organic billings growth, Japanese weakness, and the major sales leadership overhaul carried out ahead of Salesforce's pivotal January quarter.