#1 - Microsoft (NASDAQ:MSFT)
I recently included Microsoft Corporation (NASDAQ:MSFT) on a list of artificial intelligence stocks to buy. One reason for that was the company’s $1 billion investment in OpenAI. At the time, I wrote that it was likely Microsoft would be increasing its investment.
That happened in late January when Microsoft expanded its partnership with OpenAi. Although the specifics have not been announced, it’s believed to be a $10 billion investment that will span multiple years. The conventional wisdom is that Microsoft will be working to incorporate ChatGBT into its Bing search engine.
Being able to chip away at Google’s 70% market share in search would be intriguing. But the company has already said it plans to use AI in every product in its portfolio.
MSFT stock briefly dipped after it missed slightly on revenue in its earnings report on January 24, 2023. But the stock has quickly made those gains as investors are refocusing on the bigger opportunity in the stock.
About Microsoft
Microsoft Corporation develops and supports software, services, devices and solutions worldwide. The Productivity and Business Processes segment offers office, exchange, SharePoint, Microsoft Teams, office 365 Security and Compliance, Microsoft viva, and Microsoft 365 copilot; and office consumer services, such as Microsoft 365 consumer subscriptions, Office licensed on-premises, and other office services.
Read More - Current Price
- $420.21
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 32 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $454.70 (8.2% Upside)
