From TipRanks: 2024-04-12 12:33:11

– Microsoft’s backing of OpenAI has been essential, but signs indicate OpenAI may be looking to compete directly with Microsoft, causing share values to drop slightly. OpenAI’s product line, including ChatGPT Enterprise with 600,000 users, is rapidly growing, potentially posing a threat to Microsoft’s dominance in the field.

– Despite potential competition from OpenAI, Microsoft is exploring other avenues for growth. Initiatives like utilizing LinkedIn for influencer marketing and designing a console PC hybrid like the Series X2 are underway. These strategies aim to tap into new markets and technologies to maintain Microsoft’s relevance and innovation.

– Analysts on Wall Street have a Strong Buy consensus rating on MSFT stock, with an average price target of $474.08 per share, representing a 12.08% upside potential. Despite a 47.45% rally in share price over the past year, Microsoft’s growth potential and market performance remain strong, according to industry projections.



Read more at TipRanks: Microsoft (NASDAQ:MSFT) Slips as OpenAI Turns Competitor