Microsoft will join Apple and hit a $3 trillion valuation by early 2024, according to Dan Ives, an analyst with Wedbush.
- In a new report issued Wednesday, Ives said the “the monetization opportunity” for the company’s AI-related initiatives is happening sooner than anticipated.
- “Over the last few weeks in our numerous conversations with Microsoft customers, partners, and field checks it has become crystal clear to us that the monetization opportunities around deploying AI and ChatGPT in the cloud is a transformational opportunity across the industry with Redmond in the driver’s seat,” Ives wrote.
- Microsoft, which reports its fiscal fourth quarter results later this month, has a market capitalization around $2.5 trillion and shares are up nearly 30% in the past 12 months.
