Tech giant Microsoft (NASDAQ:MSFT) has made a lot out of artificial intelligence (AI) these days, from backing OpenAI to staging its own internal developments. Now, it’s making a new push with Copilot, bringing out some new plans around that tool. Investors weren’t excited, though, as shares were down fractionally in the closing minutes of Thursday’s trading session.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Microsoft is working on promotional issues to get more users in on the AI trend, and it’s starting with developers. A leaked message reveals that Microsoft is planning a new Copilot tool, which will be used internally, in a bid to get more developers behind AI.
The new tool in question is called Microsoft 365 Copilot, a breed of Copilot intended to work with several Microsoft tools, particularly Outlook, Teams, and Word, which gives it a lot of options for making documents or conducting meetings. Microsoft also recently staged a “hackathon” event, which saw users attempt to build tools putting Copilot to work as the underlying platform.
A New Ad Plan & More Regulatory Troubles
Microsoft also plans to support its Copilot operations with one of the biggest marketing moves around: a Super Bowl ad. The ad, reports note, will show just what Microsoft can do with Copilot, but some question whether the target market will necessarily coincide with the crowd watching the big game. Meanwhile, Microsoft is also facing new flak from the Federal Trade Commission, who’s taking aim at Microsoft over its planned layoffs at Activision Blizzard.
One lawyer with the FTC, Imad Abyad, declared that “…this newly-revealed information (about the layoffs) contradicts Microsoft’s representations in this proceeding.” The FTC has already appealed the decision that let the deal go forward in the first place and likely hopes to undo it all with findings like this.
What Is the Target Price for Microsoft Stock?
Turning to Wall Street, analysts have a Strong Buy consensus rating on MSFT stock based on 32 Buys, one Hold, and one Sell assigned in the past three months, as indicated by the graphic below. After a 58.38% rally in its share price over the past year, the average MSFT price target of $469.45 per share implies 13.39% upside potential.
