TECH - Microsoft's 'iPhone Moment': Shares Dip But Analysts Remain Positive After Ignite Event | Benzinga
Microsoft’s (NASDAQ:MSFT) shares were lower in morning trade on Friday. Tech stocks were sold off on all the major indices.
Although the stock fell 1.3% to $371.44 on Friday, the Redmond, Washington-based company has had a great month. The stock climbed 9.8% since the end of October as the tech sector enjoyed a broad rally.
This week, Microsoft held its annual Ignite conference. It unveiled a range of new and updated artificial intelligence (AI) and cloud offerings. One analyst equated the Copilot, the company’s AI assistant based around Bing Chat, to an “iPhone moment.”
KeyBanc analyst Michael Turits maintains an overweight rating and a $420 price target, while Piper Sandler analyst Brent ...