Microsoft Stock Soars to New All-Time High Ahead of AI Conference
The stock of Microsoft (MSFT) reached an all-time high on Friday as the tech giant gears up to unveil its latest advancements in artificial intelligence at an upcoming conference.
In intraday trading on the stock market today, Microsoft’s stock hit a record high of 370.09, breaking out of a cup base at a buy point of 366.78. It closed the regular session with a 2.5% increase, reaching 369.67.
Just a day before, the stock saw a slight dip, marking its first drop in nine consecutive days of growth. This winning streak was the longest since November 2019.
Following a strong earnings report, crediting the success to its cloud computing businesses, Microsoft’s Chief Executive Satya Nadella highlighted the company’s AI initiatives, including its Copilot products, on a call with analysts.
Microsoft Set to Reveal AI Innovations at Ignite Conference
Microsoft is getting ready to present its latest AI initiatives during a keynote session at its Ignite conference in Seattle on Wednesday, which could serve as a catalyst for MSFT stock.
Notably, Microsoft’s stock is featured on four IBD stock lists, including IBD 50, Leaderboard, Big Cap 20, and Tech Leaders, solidifying its position in the market.
Additionally, Microsoft is part of the Magnificent Seven stocks, along with Alphabet (GOOGL), Amazon.com (AMZN), Apple (AAPL), Meta Platforms (META), Nvidia (NVDA), and Tesla (TSLA).
For more stories on consumer technology, software, and semiconductor stocks, follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz.
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