Stock price microsoft microsoft’s share price has tested $408

Microsoft’s share price has tested $408 resistance but technical charts suggest a potential breakout. With cloud revenue up 24% y/y, traders are closely watching the $415 zone for confirmation of a bullish extension into the next earnings cycle. AI is a major catalyst for growth in the cloud computing market, since businesses can use AI in the cloud to get better insights from their data. Oracle (NYSE: ORCL) might be the best cloud stock to buy based on its leadership in enterprise database services and its extensive data center infrastructure that is optimized for AI. Microsoft's investment in OpenAI was smaller in dollar terms, but it was transformational. It got in early when OpenAI's ChatGPT was starting to go mainstream, and that early move gave it preferred access to its models. That alone was a game-changer because it was able to become the growth driver behind its cloud computing unit, Azure. The latest trading data shows Microsoft at $412.18, within striking distance of new highs. Investment banks reaffirm buy ratings based on projected AI adoption rates across global enterprise clients.