It\u2019s been a choppy few months for tech stocks including Microsoft (Microsoft Stock Quote, Chart, News NASDAQ:MSFT) which has nonetheless posted impressive gains over 2020. But it\u2019s a case of too much too fast according to Christine Poole of GlobeInvest Capital Management, who thinks investors ought to wait for a better entry price. \u201cMicrosoft is one of the technology names that we hold in our client portfolios. We like the growth their cloud business, their transition to a recurring revenue stream with Office 365, and many other divisions are doing well,\u201d says Poole, CEO and managing director at GlobeInvest, who spoke on BNN Bloomberg on Thursday. \u201cI think at this price level I would wait for a pullback, maybe a five per cent pullback to buy it and start building a position. That\u2019s what I\u2019d be doing from new client money,\u201d Poole said. \u201cWe definitely think that Microsoft is going to do well long term and we like their positioning in the areas they are in.\u201d \u201cSo, wait for that pullback and start nibbling at it,\u201d Poole said. Microsoft has been up and down in recent months, hitting an all-time high of $232 per share in early September but mostly trading between $200 and $220 in the weeks and months since. That choppiness has been market-wide, where investors have had a number of uncertainties to deal with, from the ongoing COVID-19 pandemic and the virtual demolition of entire industries in the airlines and sports and entertainment sectors to the US elections and ongoing trade tensions with China. After a spring and summer that saw the S&P 500 post a rally for the ages, the index is now even for the past three months, while the tech-heavy NASDAQ is now down slightly from its early September peak. The market more or less greeted Microsoft\u2019s latest quarterly earnings in late October seemingly with a shrug, even as top and bottom lines beat estimates. MSFT\u2019s fiscal first quarter 2020 saw net income climb 30 per cent year-over-year to $13.9 billion on revenue of $37.15 billion, while diluted EPS was $1.82 per share. Analysts had been expecting $1.54 per share on revenue of $35.72 billion. The company saw growth across its segments where Productivity and Business Processes including Microsoft Office grew by 11 per cent to $12.3 billion, Intelligent Cloud services were up 20 per cent to $13.0 billion and hardware including Xbox and Surface in More Personal Computing was up six per cent to $11.8 billion. \u201cThe next decade of economic performance for every business will be defined by the speed of their digital transformation,\u201d said Satya Nadella, CEO, in a press release. \u201cWe are innovating across our full modern tech stack to help our customers in every industry improve time to value, increase agility and reduce costs.\u201d But it was a muted outlook that seemingly resulted in a blas\u00e9 market response, as management called for fiscal second quarter revenue between $39.5 and $40.4 billion, a touch below analysts\u2019 consensus average at $40.43 billion. Microsoft recently released new versions of its Xbox gaming consoles, the Series X and Series S, both with slightly more processing power and better graphics performance and in time for the crucial holiday season. The new consoles are actually a big deal for Microsoft, according to John Freeman, vice president of equity research at CFRA who spoke on CNBC on October 27. \u201cThis platform that\u2019s coming out is the first hardware architecture upgrade in eight years and I think people are really going to be wowed by the changes and improvement in realism and how it\u2019s a much more immersive experience,\u201d Freeman said. Freeman has given Microsoft a \u201cStrong Buy\u201d rating, with the analyst saying, \u201cMy Strong Buy rating is based on fundamentals and the long-term prospects which I think are really improving . One of the things we\u2019re seeing is that most of Microsoft\u2019s revenue has gone from traditional to the cloud, which was a headwind to growth but is now a tailwind as those subscription revenues which are spread out over time kick in.\u201d After the fiscal Q1 numbers came out, Raymond James analyst Robert Majek also reiterated his \u201cStrong Buy\u201d rating on MSFT with a $235 per share price target. Majek said in an update to clients on October 28, \u201cWe remain very enthusiastic about the company\u2019s long-term secular growth story as a dominant vendor that is consolidating IT spend and maintaining its strong competitive position as one of three leading hyperscale cloud vendors.\u201d Wedbush analyst Dan Ives gave an \u201cOutperform\u201d rating to the stock leading into the Q1 release, saying the COVID-inspired work-from-home environment will cause more companies to move to the cloud, thus benefitting Microsoft\u2019s Azure. \u201cAzure\u2019s cloud momentum is still in its early days of playing out within the company's massive installed base and the Office 365 transition for both consumer\/enterprise is providing growth tailwinds over the next few years,\u201d Ives said.