Wedbush Securities analyst Dan Ives has raised the price target for Microsoft Corp
What Happened: Ives took to X to announce the price target increase on Sunday. The analyst highlighted the growing interest in Microsoft's AI offerings and the imminent monetization of Azure, a cloud computing service, as the primary reasons for the bullish outlook.
"We are raising our price target on Microsoft from $500 to $550 reflecting incrementally bullish recent AI customer checks with a tidal wave of Copilot and Azure monetization now on the doorstep for MSFT. We have seen AI deal conversions for the enterprise accelerating," Ives wrote.
Dan Ives@DivesTechWe are raising our price target on Microsoft from $500 to $550 reflecting incrementally bullish recent AI customer checks with a tidal wave of Copilot and Azure monetization now on the doorstep for MSFT. We have seen AI deal conversions for the enterprise accelerating
Microsoft stock gained over 29% in the last 12 months. Investors can gain exposure to the stock via Vanguard Total Stock Market ETF
Why It Matters: Microsoft has been making significant strides in the AI and cloud computing sectors. The company recently announced a $7.16 billion investment in the construction of new data centers in Aragon, Spain, over the next ten years. This move is expected to bolster Microsoft's cloud infrastructure and enhance its Azure services.
Despite a recent setback with its AI feature, Recall, Microsoft remains committed to AI innovation. CEO Satya Nadella has been driving the company's AI strategy, making significant investments and partnerships.
Moreover, Microsoft's decision to develop an Arm-based
Price Action: Microsoft Corp. closed at $442.57, up 0.22% on Friday; in after-hours trading, it dipped 0.036%. The stock has gained 19.33% year to date, according to the data from Benzinga Pro.
