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The 2023 rise in Microsoft shares will continue thanks to the tech giant’s efforts to integrate ChatGPT and artificial intelligence into its business model, writes Business Insider.
As a result, the price target for the technology stock rose from $340 to $375 per share – a 13% increase from the current level of $333, the equivalent of reaching a market capitalization of $300 billion.
Microsoft could enjoy similar gains to other AI companies as it integrates the intelligent language tool into its Azure cloud business, Bing search engine and Office 365 suite of products.
Microsoft shares are already up 39% in 2023, benefiting in particular from ChatGPT.
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