Why Microsoft Stock Could Run Out of Steam in 2024
(NASDAQ: MSFT) is one of the "Magnificent Seven" -- a small set of massive tech companies that were key drivers of the S 500's impressive 20%-plus returns so far this year. The company's role in artificial intelligence (AI) -- including its investment in and partnership with ChatGPT-maker OpenAI -- made it a popular stock for growth-oriented investors. But that attraction could face a big test next year when some investors will be looking for rapid signs that AI truly is having a game-changing effect on the business.
Given how well the stock performed this year, they will likely expect a lot from the business in 2024. It won't be easy for Microsoft to meet those expectations.
Share prices of Microsoft are up by more than 50% this year. And in four of the past five years (2022 being the only exception), the tech stock's price has gained at least 40%. Since 2019, the stock has climbed by an incredible 260%. The S 500, by comparison, has risen by a more modest 84%.
Source Fool.com
Microsoft Corp. Stock
The stock is one of the favorites of our community with 111 Buy predictions and 1 Sell predictions.
With a target price of 424 € there is a slightly positive potential of 13.28% for Microsoft Corp. compared to the current price of 374.3 €.
