This Artificial Intelligence (AI) Growth Stock Could Be Worth $3 Trillion by 2024, According to Wall Street
Morgan Stanley analysts, led by Keith Weiss, recently ranked (NASDAQ: MSFT) as their "top pick" among large-cap software companies, citing growth prospects in generative artificial intelligence (AI) and a sensible valuation. The analyst team also raised its 12-month price target on Microsoft to $415 per share, implying a 25% upside from its current share price. That price target also implies a valuation of nearly $3.1 trillion by mid-2024 at the latest.
Here's what investors should know about this AI growth stock.
Microsoft accounted for 16.4% of software-as-a-service revenue last year, taking nearly twice as much market share as its closest competitor, and Microsoft Azure currently serves 95% of the Fortune 500 in some capacity. In short, the tech giant offers a broad range of software products and cloud services that collectively form the IT backbone for many modern businesses.
Source Fool.com
Microsoft Corp. Stock
The stock is one of the favorites of our community with 135 Buy predictions and 2 Sell predictions.
With a target price of 440 € there is a slightly positive potential of 5.43% for Microsoft Corp. compared to the current price of 417.35 €.
