Analysts from Morgan Stanley predict that Microsoft Corp., aided by advancements in artificial intelligence (AI), can ascend to the $3 trillion market cap club, joining the ranks of Apple Inc.
Setting a new price target for Microsoft at $415, the analysts, spearheaded by Keith Weiss, envision the tech behemoth's value soaring to nearly $3.1 trillion. The team highlighted Microsoft as their foremost choice among the leading software firms, due to its potential to capitalize on the AI growth wave.
Weiss suggested that "Generative AI could considerably widen the range of business processes that software can automate, and Microsoft is ideally positioned to profit from this expansion."
Microsoft's stock has seen remarkable growth this year, largely driven by the AI boom, especially the developments by OpenAI Inc., a startup backed by Microsoft. The widely successful ChatGPT tool by OpenAI has stoked investor enthusiasm. Microsoft is planning to infuse its entire suite of Office applications, including Excel, PowerPoint, Outlook, and Word, with OpenAI's technology.
Artificial intelligence-driven gains can propel Microsoft Corp. to join Apple Inc. in the elite category of stocks with a market capitalization of more than $3 trillion.
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