From Nasdaq:

In 2023, the Nasdaq Composite soared 43% in the first year following a market recovery. Considering the improving economy, it’s anticipated that the market’s rally may have more room to run.

Microsoft had a banner 2023, gaining 57%. The company could see even greater heights due to advances in artificial intelligence, such as generative AI, and its integration with Microsoft’s core products.

Microsoft’s generative AI tools, including Copilot, have shown significant improvements in work tasks. The company’s estimations suggest AI could result in millions of dollars in incremental revenue for Microsoft by 2027.

Microsoft’s Azure Cloud service, which is emphasizing demand for AI services, continues to gain market share from its competitors, AWS and Google Cloud, which grew 30% faster than both services.

Microsoft’s personal computing segment has started to recover with a 19% increase in revenue, which could fuel growth in both the company’s software-as-a-service and cloud infrastructure businesses.

Despite the numerous opportunities for growth, Microsoft retains a reasonable valuation, selling for 37 times earnings and 13 times sales with numerous opportunities for the future.



Read more: History Suggests the Nasdaq Will Continue Surging in 2024: 1 Brilliant Artificial Intelligence (AI) Growth Stock to Buy Before It Does