1 Wall Street Analyst Thinks Microsoft Stock Is Going to $500. Is It a Buy?
(NASDAQ: MSFT) stock has been on a tear, gaining 50% over the past year as it comes within striking distance of a new all-time high. The company is reaping the rewards of its early pivot to embrace artificial intelligence (AI), a move that's expected to pay dividends for years to come.
Wedbush analyst Dan Ives recently maintained a buy rating on the stock and boosted his price target to $500 -- up from $475. The latest price target is 19% higher than Tuesday's closing price. There's one key reason analysts and investors alike should be bullish on Microsoft stock.
While many businesses are talking about AI, Microsoft is actually doing something about it. The company has integrated AI tools across a great many of its products and services. In Microsoft's fiscal 2024 second quarter (ended Dec. 31), the company grew revenue 18% year over year to $62 billion.
Source Fool.com
Microsoft Corp. Stock
The stock is one of the favorites of our community with 101 Buy predictions and 2 Sell predictions.
With a target price of 410 € there is a slightly positive potential of 7.15% for Microsoft Corp. compared to the current price of 382.65 €.
