While the broader tech stock rally already had many investors eying Microsoft (NASDAQ: MSFT), the recent turbulence concerning OpenAI and its now-former CEO, Sam Altman, only brought the company further into focus.
Throughout the year, Microsoft has been performing very well and is up more than 50% since January, but the announcement made on X on Monday, November 20, that the tech giant has hired Altman and Greg Brockman to lead its internal artificial intelligence (AI) team opened a possibility for a major stock surge.
In its search for answers about what the future might hold for Microsoft and whether the inverse of what Jim Cramer recently said when comparing MSFT with Nvidia (NASDAQ: NVDA) will happen, Finbold decided to consult the AI of ChatGPT.
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ChatGPT offers price range for MSFT for January 2024
While ChatGPT made multiple attempts to compile the most significant up-to-date information on Microsoft when making its assessment, it is important to note that the break-neck pace of developments pertaining to the situation with OpenAI and Sam Altman ensured that the task is more difficult than is usually the case.
That being said, after several data collection and data crunching attempts, ChatGPT estimated that Microsoft is likely to stand between $380 and $420 at the start of 2024, with the AI also offering justifications for the numbers.
The artificial intelligence considers $400 to be the base prediction after taking into consideration Microsoft’s recent performance and the hiring of Sam Altman. It assumes that the rest of the year is likely to be smooth sailing for the tech giant.
It also considers $420 a likely price as Microsoft’s new AI team headed by Sam Altman might significantly boost investor confidence in the firm and lead to higher-pace growth for its shares in the next two months due to the possibility of technological breakthroughs than could otherwise be expected.
When asked whether it believes Microsoft might deviate in either direction from the initial estimate, ChatGPT admitted that it is possible. MSFT might rise above $440 should the tech stocks rally continue and should the pace of new advancements and positive announcements from the company increase.
ChatGPT also assessed that Microsoft might also experience a decline to below $360 by January 2024, but it only offered very general potential reasons for such a development.
MSFT price analysis
Whatever might happen by the New Year, it is already evident that the firing of Sam Altman from OpenAI and his coming to Microsoft has already had a visible impact on the tech giant’s stock. Shortly before the close on Friday, November 17, MSFT sharply declined and ended the day at $369.85 – a 1.68% fall within 24 hours.
On the flip side, the announcement made on Monday, November 20, had the opposite effect, leading to MSFT gaining slightly more than 1% in the pre-market.
Zooming out from the most recent happenings, Microsoft recorded a decent month, having risen 13.22%, and a generally strong year, as it is up 54.37% year-to-date (YTD).
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