Microsoft Analyst Bullish On AI Leadership, Retains Caution Given High Interest Rates
Portfolio Pulse from Anusuya Lahiri
KeyBanc analyst Michael Turits reiterated an Overweight rating on Microsoft Corp (NASDAQ:MSFT) with a price target of $400. Turits expects an overall in-line Q1 for Microsoft, citing stable results and positive feedback on Azure. However, he expressed caution due to the high-rate environment and macro concerns. Turits remains positive on Microsoft's leadership in AI and expects the company to benefit from demand for OpenAI and broader AI model training, deployment, and application development.
October 20, 2023 | 5:14 pm
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Microsoft's Q1 results are expected to be in-line, with positive feedback on Azure. However, caution is advised due to the high-rate environment and macro concerns.
The analyst's reiteration of an Overweight rating on Microsoft indicates a positive outlook for the company. However, the caution expressed due to the high-rate environment and macro concerns could potentially impact the company's stock price in the short term.
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