Analyst Optimistic As OpenAI Reinstates Altman, Boosting Microsoft's Spot
Portfolio Pulse from Anusuya Lahiri
Microsoft Corp (NASDAQ:MSFT) stock rose after OpenAI reinstated Sam Altman as CEO, with a new board including Bret Taylor and Larry Summers. Wedbush analyst Daniel Ives views this as positive, reinforcing Microsoft's relationship with OpenAI. Ives maintains an Outperform rating on Microsoft with a $425 price target. MSFT shares were up 1.48% at $378.61.
November 22, 2023 | 5:25 pm
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POSITIVE IMPACT
Microsoft's stock increased following the reinstatement of Sam Altman as CEO of OpenAI and the introduction of a new board, signaling a positive outlook for Microsoft's partnership with OpenAI.
The reinstatement of Sam Altman as CEO of OpenAI and the formation of a new board is seen as a positive development for Microsoft, which has a partnership with OpenAI. This could lead to increased investor confidence in Microsoft's AI initiatives and potentially drive the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90