Microsoft is giving other tech giants a run for their money with its latest AI-driven products. OpenAI is one of Microsoft’s biggest investments which is turning heads around. ChatGPT and Bing AI have been received well across the globe. Recently, Open AI and Microsoft was sued by 16 anonymous plaintiffs for using internet users’ data without their concern for training ChatGPT. The plaintiffs claimed that the company scrapped 300 Billion words without registering themselves as a data broker. Earlier, Bloomberg reported that Moody’s will also use OpenAI tools for research purposes.
Microsoft CEO Satya Nadella has recently said in a federal court hearing that he would like to eliminate the concept of exclusive games for consoles. Microsoft has said that they want to add Activision games to its subscription services. US regulators are currently wanting to stop Microcosft from purchasing Activision Blizzard.
Microsoft has a market cap of $2.49 Trillion as per Yahoo Finance with an EPS of $9.33.
MSFT stock price is currently a few inches away from its 52-week high and can see a new high soon.
Is MSFT Stock Price Ready to Jump Beyond $350?
Microsoft stock price is currently in a strong bullish trend on the weekly technical chart. It is currently observing a halt on the daily chart near major levels. MSFT stock price is currently trading near the value of $335 with a slight drop in the intraday session. The positive momentum of the stock price could halt near $350. MSFT stock price is currency above the 0.236fib. If it sustains above the level, then a strong bullish trend in the future can be seen. The support of the MSFT stock price can be observed near $320.
The RSI of stock price is near 55 with no slope in it. The overall sentiment of the indicator is weakly bullish.
Summary
Satya Nadella has recently said in a federal hearing that he has no love for the exclusive deals between gaming companies and consoles. MSFT stock price is consolidating but can see a new high in the future.
Technical Levels
Major Support:$320
Major Resistance:$350
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/06/30/will-love-of-ai-push-microsoft-stock-push-it-to-a-new-high/