Wedbush: Microsoft Will Soon Be Also Worth Over $3 Trillion

Following Apple Corp., IT giant Microsoft is a candidate for a market capitalization in excess of $3,000 billion. Chief Analyst of Wedbush Daniel Ives said in an interview with CNBC that the leap will be possible thanks to the explosive growth of global interest in artificial intelligence. According to Ives, “Microsoft capitalization will exceed $3,000 billion in early 2024.”

Last week, Apple became the first company to close the stock market with a capitalization of $3,000 billion, which, by comparison, is the GDP of all of France.

According to Daniel Ives, “the boom of artificial intelligence will allow Microsoft to follow the financial experience of Apple. ”Microsoft has invested nearly a billion dollars in OpenAl that developed ChatGPT, an artificial intelligence capable of communicating with users using “natural human languages.” In addition, Microsoft Azure, a cloud business by Microsoft, will also be a potential beneficiary of the current AI turmoil, as more companies around the world incorporate AI principles into their day-to-day business and need more and more powerful servers.

Thanks to interest in artificial intelligence, Microsoft shares have grown by 41% since the beginning of the year, and Big Tech’s capitalization has reached $2,550 billion. Over the past three months, analysts have provided 12-month target prices on Microsoft. The Bill Gates-founded company has an average price target of $341.59, with a high of $420 and a low of $232. According to Wedbush, the target price on Microsoft is $375.