If AI Thrives, Microsoft Will, Too
What a difference a calendar year makes. Across 2022, (NASDAQ: MSFT) shares lost nearly 30% of their value based on concerns that supply shortages would hamstring tech companies of all shapes and sizes. So far, 2023 has been a much different story, with the stock rising roughly 40% year to date.
One of the key reasons -- if not the key reason -- is the company's deep and direct involvement in artificial intelligence (AI).
The most prominent spear in Microsoft's AI arsenal is OpenAI, the developer behind the highly popular ChatGPT app. While OpenAI is not a Microsoft property and operates as an independent entity, the tech giant is a major investor. Microsoft followed up a $1 billion investment in 2019 with subsequent outlays in 2021 and earlier this year.
Source Fool.com
Microsoft Corp. Stock
The stock is one of the favorites of our community with 115 Buy predictions and 3 Sell predictions.
With a target price of 424 € there is a slightly positive potential of 15.36% for Microsoft Corp. compared to the current price of 367.55 €.
