Wedbush Analyst Dan Ives Raises Microsoft's Price Target To $550: 'Tidal Wave Of Copilot And Azure Monetization Now On The Doorstep' For Redmond
Portfolio Pulse from Benzinga Neuro
Wedbush Securities analyst Dan Ives has raised the price target for Microsoft Corp (NASDAQ:MSFT) from $500 to $550, citing positive AI customer feedback and the increasing monetization of Copilot and Azure. Microsoft has been making significant strides in AI and cloud computing, including a $7.16 billion investment in new data centers in Spain and the development of an Arm-based PC chip in collaboration with MediaTek. Investors can gain exposure to Microsoft stock via Vanguard Total Stock Market ETF (NYSE:VTI) and SPDR Select Sector Fund – Technology (NYSE:XLK).
June 17, 2024 | 2:14 am
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Wedbush Securities analyst Dan Ives has raised the price target for Microsoft from $500 to $550, citing positive AI customer feedback and the increasing monetization of Copilot and Azure.
The price target increase by a reputable analyst, combined with positive feedback on AI and Azure monetization, is likely to boost investor confidence and drive short-term stock price appreciation.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to Microsoft's stock via Vanguard Total Stock Market ETF (NYSE:VTI).
As Microsoft is a significant component of VTI, positive news for Microsoft is likely to have a favorable impact on VTI's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Investors can gain exposure to Microsoft's stock via SPDR Select Sector Fund – Technology (NYSE:XLK).
As Microsoft is a significant component of XLK, positive news for Microsoft is likely to have a favorable impact on XLK's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50