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- Microsoft has announced a revenue of $52.7 Billion amid the recent layoffs
- Microsoft has bet hugely on the ChatGpt to dominate AI war. It is trading near $263 with a loss of 0.2%
Microsoft Corporation is one of the largest technology companies in the world, and its stock has consistently been a top performer in the tech sector. The company has a long history of innovation and is widely recognized for their software.They are actively involved in a number of initiatives aimed at advancing the state of the art in AI, including the development of cutting-edge AI technologies and the deployment of AI-powered solutions across a range of industries.Microsoft made headlines by becoming a partner and investor in OpenAI in 2020. This partnership has given Microsoft access to cutting-edge AI research and talent, and this partnership has proved very useful to Microsoft.Microsoft Chat Gpt powered Bing is getting a lots of attention. They have announced a revenue of $52.7 Billion for the current quarter.Meanwhile Microsoft acquisitions of Activision has raised concerns to the UK regulators.Microsoft is also helping the users to not check for the Medical and various advice.Bing is currently nailing the search queries and is seeing a lot of interest..
Microsoft stock price is currently on its way to reach the $2 Trillion mark. Various analysts are betting heavy on the result of this AI war.
Bulls Are In Favor Of MSFT
The weekly technical chart of the Microsoft stock price suggests a weak upside move in the price.On the daily chart it is trading near the value of $263 with a drop of 0.2%.It may see a strong rise with Microsoft winning the AI war.Resistance of the MSFT can be seen near $300.Meanwhile the support of the asset price can be seen near $220.It is currently trading above the 50 and 100 Daily Moving Average.There is a positive crossover which can push the asset price to a new high.There is also a strong positive momentum in the investors for the new AI technology.Various analysts are also expecting a strong growth in the future.
RSI of the asset price is currently near 62 suggesting its presence in oversold zone,There is a negative slope which suggests a weak momentum.
Conclusion
Microsoft is currently winning the AI war and has posted a strong revenue. They are betting big on the Open AI. MSFT stock price is currently on a halt and can see a new rise soon.
Technical Levels
Major Support:$220
Major Resistance:$300
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
