Argus Cuts Microsoft Price Target to $510

Argus analyst Joseph Bonner lowered the price target on Microsoft (NASDAQ: MSFT) to $510 (from $620) while maintaining a Buy rating.

“We are maintaining our BUY rating on Focus List selection Microsoft Corp. (NGS: MSFT) but lowering our target price to $510 from $620.

Microsoft continues to pursue long-term growth through its artificial intelligence (AI) and cloud investments.

CEO Satya Nadella sees GenAI as a rare change to a fundamental computing paradigm, and Microsoft is moving aggressively to exploit the opportunities opened by GenAI, as demand currently outstrips the supply of its cloud services.

Microsoft is racing against competitors Alphabet and Meta, as well as a host of smaller AI startups, to develop the new GenAI models/applications that may drive the emerging GenAI market as a whole.”

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