Video game producer Electronic Arts (NASDAQ: EA) makes some of the best-selling titles in the industry, particular its popular soccer title FIFA, which continues to deliver strong growth for the company. But not all of the company's games are delivering the growth investors expec
This earnings season, multiple companies have reported quarters burdened by economic headwinds, low consumer demand, and foreign exchange challenges. But these temporary obstacles present a buying opportunity for stocks with excellent long-term outlooks.
Microsoft visited an artisanal cobalt mine in Democratic Republic of Congo in December as part of attempts to jump-start formalisation of the little-regulated and dangerous industry that experts say is key to meeting global demand for the battery material.
What happened
Shares of Microsoft (NASDAQ: MSFT) climbed more than 4% on Tuesday after the software giant announced some highly anticipated, AI-powered upgrades to its web browser and search tools.
U.S. stocks rallied to a convincingly higher close on Tuesday, but trade was choppy as investors digested comments from Federal Reserve Chair Jerome Powell about how long the central bank may need to tame inflation.
As the AI wars heat up between mega-cap tech rivals, it's important to understand the importance of artificial intelligence and how it could change the future landscape for the companies. The video below shares the recent news, compares Bard AI versus ChatGPT, and provides my tho
U.S. stocks closed higher after a choppy trading session on Tuesday, as investors digested comments from Federal Reserve Chair Jerome Powell about how long central bank may need to tame inflation.
What happened
Shares of Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) were moving higher today as anticipation seemed to be building for the company's live event tomorrow.
U.S. stocks gained in choppy trading on Tuesday as investors digested comments from Federal Reserve Chair Jerome Powell about how long the fight to tame inflation may take.
Microsoft Corp is revamping its Bing search engine with artificial intelligence, the company said on Tuesday, in one of its biggest efforts yet to lead a new wave of technology and reshape how people gather information.
The S&P 500 and Nasdaq edged higher on Tuesday, propped up by gains in Microsoft shares, while investors awaited comments from Federal Reserve Chair Jerome Powell to assess the central bank's stance on monetary policy.
The AI arms race is about to get real. Today (Tuesday, Feb 7) should see the official unveiling of
Microsoft’s (
NASDAQ:MSFT)
ChatGPT investment.
Do not take this event lightly, appears to be the gist behind Wedbush's Daniel Ives’ comments ahead of the much-talked-about bot’s anticipated entrance into the Microsoft ecosystem.
“This OpenAI investment/strategic partnership which is likely in the $10 billion range is a game changer in our opinion for Nadella & Co. as the ChatGPT bot is one of the most innovative AI technologies in the world today,” the 5-star analyst said.
The investment looks like part of Microsoft’s attempt to get in on Google’s turf. Its search engine Bing currently commands around a 9% chunk of the search market but integrating the unique tool into the platform could lead to “major share shifts away” from undisputed search leader Google.
Not that Google is about to lay down and let Microsoft take over. It’s hardly a coincidence that Microsoft announced its news event right after Google said it is working on a ChatGPT rival of its own called Bard.
ChatGPT will also probably be integrated into Microsoft’s cloud services along with Azure, offering more “competitive threats” to the likes of Amazon and Google.
As such, the tech giants are about to lock horns and Ives thinks that in order to “unlock the potential of these innovative technologies across the consumer and enterprise fronts,” over the next 12 to 18 months, billions from the tech universe will be invested in the wider AI industry.
“We view this as the first shot across the bow in this Big Tech AI battle that is set to hit its next gear of investments over the coming months with Microsoft now leading the race,” the analyst summed up.
What this all means for investors? Ives gives MSFT shares a $280 price target to back his Buy rating on the stock. His target suggests room for a 10% uptick over the coming months. To watch
Ives’ track record,
click here)
What does the rest of the Street think about MSFT's growth prospects? It turns out that other analysts agree with Ives. The stock received 25 Buys in the last three months compared to 3 Holds and a single Sell, making the consensus rating a Strong Buy. (See
MSFT stock forecast
)
To find good ideas for stocks trading at attractive valuations, visit TipRanks’
Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
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