Wedbush's Ives Raises Microsoft Target To $425 On The Back Of 'Game-Changing' AI Monetization, Same Day Redmond Announces Two Custom Chips
Portfolio Pulse from Ananya Gairola
Wedbush analyst Dan Ives has increased the price target for Microsoft Corporation (NASDAQ:MSFT) from $400 to $425, citing the potential for 'game-changing' AI monetization from its Co-Pilot AI product. Microsoft also announced the development of two custom chips, Maia and Cobalt, to enhance its Azure cloud service and reduce internal costs, respectively. These developments position Microsoft as a 'Top Pick' for 2024 and reflect the company's strategic moves in AI amidst a global chip shortage.
November 16, 2023 | 1:28 am
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Wedbush analyst Dan Ives raised Microsoft's price target to $425, highlighting the Co-Pilot AI product as a key factor. Microsoft's announcement of two custom chips, Maia and Cobalt, is expected to strengthen its Azure cloud service and reduce costs.
The price target increase by a reputable analyst based on advancements in AI and the development of custom chips indicates strong confidence in Microsoft's growth prospects. These factors are likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
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IMPORTANCE 90
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