In the ever-evolving technology industry, Microsoft Corp. is making big strides in artificial intelligence (AI) that are benefitting its investors. A Goldman Sachs analyst, Kash Rangan, recently reiterated a Buy rating on Microsoft with a price target of $515, pointing to the company’s strong position across various cloud layers and its ability to capitalize on long-term trends like AI, public cloud consumption, SaaS adoption, and more.
Rangan compared Microsoft’s investment in AI, known as GenAI, to its successful launch of Microsoft Azure. While Azure took seven years to reach significant scale, GenAI is already showing promising signs after just one year of development. The analyst highlighted Microsoft’s willingness to invest aggressively in new technologies, which has led to impressive results in the past.
Microsoft’s current price was at $450.44, showing a 0.53% increase at the time of the report. The company’s strategic focus on AI and other emerging technologies has positioned it well for future growth and success in a rapidly changing industry.
Overall, Microsoft’s push into AI is seen as a positive move that will help drive the company’s future revenue and market position. The company’s dedication to innovation and willingness to invest in cutting-edge technologies has been a key factor in its past success and is expected to continue driving growth in the years to come.
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https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39484650/microsofts-generative-ai-push-significantly-outpacing-azure-investments-goldman-sac
