Everyone knows Microsoft (NASDAQ:MSFT) is a force to be reckoned with. But just how much of a force may not have been immediately clear. Wedbush analysts recently put a concrete marker on Microsoft’s market power, and that was enough to send Microsoft up fractionally in Wednesday afternoon’s trading. Wedbush Securities on Wednesday noted that sometime early next year, Microsoft could make the critical jump to a $3 trillion company. The biggest reason? The explosive growth of artificial intelligence.
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Microsoft’s move to bring ChatGPT to Azure and Office by itself added between $40 and $50 to Wedbush’s valuation. And that is sufficient to get investors’ attention as well. There’s still a substantial quantity of work that can be moved to the cloud, which is enough for Microsoft to ramp up its acquisition of market share.
Overall, analyst consensus calls Microsoft a Strong Buy. However, Microsoft stock can only offer a paltry 2.88% upside potential thanks to its average price target of $347.94.