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AI predicts Microsoft stock price for January 1, 2024

AI predicts Microsoft stock price for January 1, 2024

In a year marked by exceptional success for Microsoft (NASDAQ: MSFT), the tech giant’s strategic maneuvers have propelled its stock to new heights. 

Notably, Microsoft’s visionary leadership capitalized on the flourishing artificial intelligence (AI) landscape, exemplified by a substantial investment in OpenAI, the creator of the ChatGPT. The integration of the GPT-4 model across various products garnered substantial demand, reflected in robust quarterly reports and promising guidance. 

While MSFT shares experienced a brief pullback after reaching an all-time high, investors and analysts remain largely optimistic about the company’s trajectory in the ever-evolving tech sector. 

With aspirations to potentially surpass Apple (NASDAQ: AAPL) as the world’s largest company, Microsoft’s future outlook is subject to various factors, prompting Finbold to employ quantitative analysis and AI-powered algorithms for a nuanced perspective on MSFT’s performance in the weeks ahead.

Shares of Microsoft are projected to stand at $366.93 on January 1, 2024, implying a minor pullback of roughly 1% from their current market price, according to CoinCodex’s predictive AI algorithms.

CoinCodex’s AI-based prediction for MSFT stock price. Source: CoinCodex

Looking farther ahead, CoinCodex anticipates that MSFT may continue its decline, reaching $359.07 in the next month and potentially further sliding to $319.20 in a year from now.

MSFT technical analysis

Microsoft’s shares closed 0.58% higher on December 7, climbing to $370.95.

At this level, the stock is not far below its new all-time high of $384.3 reached on November 29, which also acts as its resistance.

MSFT technical analysis chart. Source: TradingView

On the downside, MSFT is underpinned by a support zone between $366.6 and $362.7. Dropping below this area would allow the bears to push the stock price toward the next support lines at $351.8 and $345.1.

The stock is currently trading well above its 100-day and 200-day moving averages (MA) of $330.73 and $304.62, respectively.

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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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