Microsoft has come under the spotlight following Citigroup's '90-day positive catalyst watch' on the giant tech's stock. The announcement cites the company's potential with artificial intelligence and predicts an increase in Microsoft's share prices.
Citigroup's optimism for Microsoft's AI
Citigroup, a leading global bank, has shown optimism for Microsoft's future by announcing a '90-day positive catalyst watch' on the tech corporation's stock. The move is primarily based on Microsoft's potential around artificial intelligence (AI), a domain where the company has shown considerable promise. Citigroup further reiterated its buy rating and a price target of $420 per share, forecasting that Microsoft's stock will trade higher into the year's end.
Jim Cramer, a renowned CNBC analyst, has expressed that Microsoft's AI product, Copilot, hasn't yet been factored into the company's share price by the market. This AI assistant helps Microsoft 365 users create Office documents, demonstrating the tech giant's prowess in AI. Cramer has Microsoft as a part of his Charitable Trust portfolio, further showing his confidence in the company's potential.