Analyst Dan Ives at Wall Street investment bank Wedbush raised Microsoft's target price from $500 to $550. He stated that the monetization of Microsoft's artificial intelligence product Copilot and cloud computing service Azure continues to increase. Microsoft's stock has risen 29% in the past 12 months and closed at $442.57 last week.
Dan Ives, an analyst at Wedbush Securities, raised microsoft's target price from $500 to $550 on Sunday, June 16, citing positive feedback from ai customers and the increasing monetization of Copilot and mmf. Microsoft's stock has risen 29% in the past 12 months. As of last Friday, Microsoft's stock price closed at $442.57 per share, and Ives' target price is about 25% higher than the current stock price; Microsoft was slightly down 0.02% before the market on Monday.$Microsoft (MSFT.US)$Dan Ives, an analyst at Wedbush Securities, raised the target price from $500 to $550, citing positive feedback from ai customers and the increasing monetization of Copilot and mmf.
Ives announced the increase in Microsoft's target price on the social media platform X. The analyst emphasized that people are increasingly fascinated by Microsoft's AI product Copilot and the upcoming monetization of Microsoft's cloud computing service Azure, which are the main reasons he is bullish on Microsoft's prospects.
He wrote, “The monetization trend of Copilot and Azure is also coming. We see that the conversion rate of enterprise AI transactions is accelerating.”
Microsoft's stocks have risen by 29% over the past 12 months. As of last Friday, the Microsoft stock price closed at $442.57 per share, which is about 25% higher than the target price given by Evers; at the time of writing, Microsoft is up 0.18% during trading hours.
Currently, Microsoft has made significant progress in the fields of AI and cloud computing. The company recently announced that it will invest $7.16 billion in building a new data center in Aragon, Spain over the next decade, which is expected to strengthen Microsoft's cloud infrastructure and enhance its Azure services.
Microsoft CEO Satya Nadella has also been pushing the company's AI strategy, making numerous investments and collaborations.
Previously, there were reports that Microsoft decided to collaborate with chip giant MediaTek to develop Arm-based PC chips, which will challenge Intel's market dominance. This development could further enhance Microsoft's position in the AI and cloud computing markets.
Just last month, before Apple's WWDC began, Ives also adjusted Apple's target price from $250 to $275. He said that AI technology within Apple's ecosystem will drive an expected surge in iPhone demand.
Edited by Jeffrey