From Nasdaq:

Microsoft and the rest of the Magnificent Seven have had a slow start to 2024. Apple is currently the biggest laggard in the group of tech companies. Despite the sluggish start, AI-savvy firms like Microsoft are expected to maintain their success and create gains throughout the year.

Microsoft has a history of delivering strong AI innovations and is expected to make AI more accessible to users with new Windows PCs. The new Copilot button could potentially change user habits and entice greater usage of the AI platform, similar to the Netflix button on television remote controls.

The AI narrative has been priced into Microsoft’s stock, but there’s still potential for surprises when it comes to the actual numbers. Despite a nearly 15% premium to the stock’s five-year average, many analysts believe that Microsoft can continue to grow and maintain a strong position in AI.

Analysts consider Microsoft a Strong Buy with an average stock price target of $424.36. The highest target of $600.00 comes from Truist Financial’s Joel Fishbein, suggesting a potential gain of over 63% from current levels.

As Microsoft continues to enhance its AI capabilities, it is expected to maintain its remarkable position in 2024 and could potentially become the world’s largest company by market cap. With the clearest AI roadmap of the Magnificent Seven, Microsoft is poised for continued success.



Read more: Can Microsoft Stock (NASDAQ:MSFT) Stay Magnificent Through 2024?