3 reasons one Wall Street firm says to stick with cloud stocks amid the coronavirus-induced market rout

Microsoft at current levels is "a golden cloud tech name to own for those willing to navigate the volatility and is poised to see an acceleration of cloud deployments moving ahead," Ives wrote.

The vast majority of the company's more than $1 trillion mega-valuation and its revenue is based on its flagship Azure, Office 365, and core enterprise-driven franchise, according to Ives.