tiprankstipranks
Wedbush Analyst Bets on Microsoft Being the Winner in AI
Market News

Wedbush Analyst Bets on Microsoft Being the Winner in AI

Microsoft (NASDAQ: MSFT)’s foray into AI has turned Wedbush analyst Daniel Ives optimistic about the tech giant being a big a winner in this field.

Pick the best stocks and maximize your portfolio:

The stock remains firmly on Wedbush’s best ideas list and the analyst while retaining a Buy rating, raised the price target on the stock to $375 from $340. Ives’ price target implies an upside potential of 12.66% at current levels.

The analyst commented, “We strongly believe the first step for MSFT was Azure/Office 365 with the next step ChatGPT/AI monetization on both the consumer and enterprise fronts combined adding $40 to $50 per share to MSFT’s sum-of-the parts valuation.”

Ives also believes that Nvidia’s (NVDA) ‘jaw-dropping’ “guidance heard around the world is a direct barometer for [Microsoft] as our recent checks further confirm the monetization opportunity for Microsoft is happening much sooner than the Street has anticipated.”

The top-rated analyst has pegged the AI market at around $800 billon.

Analysts are bullish about MSFT stock with a Strong Buy consensus rating based on 29 Buys, four Holds and one Sell.

Related Articles
TheFlyGoogle, Microsoft could get key role as AI gatekeepers globally, Reuters reports
William WhiteA Dissapointing Week for Dow Jones Industrial Average Puts It in the Red
William WhiteS&P 500 Slips Today Alongside Tech Stock Retreat
Go Ad-Free with Our App