Keep an eye on Microsoft (MSFT), where weakness could be a great opportunity, we noted on December 12. At the time, the stock was consolidating around $371.30. Today, it’s up just slightly to $375.28, but could be setting up for a major move higher.
Wedbush analyst Dan Ives, for example, just raised his price target to $450 for 2024, noting:
“We believe the stock still has yet to price in what we view as the next wave of cloud and AI growth coming to the Redmond story with FY24 with a strong competitive cloud edge vs. Amazon and Google,” as quoted by Barron’s.