Microsoft (MSFT, Financial) continued to generate strong growth within cloud computing through its Intelligent Cloud, which includes Azure, on-premises, and professional service offerings. Investors also reacted positively to the software giant’s $10 billion Pentagon cloud contract win late in the period. (Please refer to the portfolio of investments for a complete list of holdings and the amount each represents in the portfolio.)
From T Rowe Price Equity Income Fund (Trades, Portfolio)'s 2019 annual shareholder letter.
