Microsoft Corp. shares
MSFT,
rose 1.1% in trading Tuesday to close at a record $360.53, surpassing the previous high of $359.49 established July 18, 2023, according to Dow Jones Market Data. Microsoft shares are in the midst of their longest winning streak since Jan. 28, 2021, up eight trading days in a row and on pace to match the span of the early 2021 streak. Microsoft is an investor in ChatGPT creator OpenAI, and UBS analyst Karl Keirstead weighed in positively on Microsoft Monday in the wake of an OpenAI developer conference. “Bottom line, what is good for OpenAI is good for Azure in our view. If OpenAI is now actively courting software developers to build apps using ChatGPT/GPT-4, lowering price points and improving model performance, it could drive greater OpenAI consumption of Azure and serve as a modest positive for Microsoft,” he wrote, referring to Microsoft’s Azure cloud-computing service.
Read the full article here
