Microsoft to regain its title as the world’s most valuable company, the latest sign of improving investor sentiment over its growth and position with artificial intelligence.
“People have a high degree of conviction that they will be an AI winner, and it seems like this is a market where if you’re an AI winner, you’re being bid up a lot,” said Rhys Williams, chief strategist at Wayve Capital Management. “I assume both Microsoft and Apple will be somewhat of a horse race for the foreseeable future with Nvidia also in contention.”The Cupertino, California-based company rose 0.
“AI functionality is likely to drive a multi-year upgrade cycle from faster replacement, more switching and ASP increases,” wrote Bank of America analyst Wamsi Mohan, referring to average selling prices. “Apple Intelligence can drive a significant upgrade cycle and consensus estimates are too low.”The AI event came in the wake of a positive quarterly report in early May, when Apple also announced a $110-billion buyback plan, the largest buyback programme in US history.
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