(NASDAQ: MSFT) has been in fine form on the stock market in 2023, with impressive gains of 38% so far. This surge has helped the tech giant increase its market cap substantially.

The company now sports a market cap of just under $2.5 trillion. That's a nice increase over it's market cap of around $1.8 trillion at the beginning of the year. And now Dan Ives of Wedbush Securities estimates that Microsoft could become a $3 trillion company in early 2024. Ives points out that Microsoft's monetization of its artificial intelligence (AI) offerings should play a central role in helping it hit that milestone.

Given that Microsoft stock needs to jump another 20% or so from current levels to get to a $3 trillion market capitalization, there is a good chance that it reaches that mark in the next few months, especially considering the progress it is making with its AI services.

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Source Fool.com