
The G20 summit took place in Bali, Indonesia, on November 2022…
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These days, investors’ attention is on Microsoft ahead of the company’s Windows 11 event on June 24. MSFT will uncover the “next generation of Windows”, that’s why the stock price has surged: the tech giant reached the all-time high of $263.50. It is still unclear what the company will release during the event, but investors tend to follow the rule “buy the rumor, sell the fact”.
According to TipRanks, Microsoft currently holds a “Strong Buy” recommendation. According to JPMorgan, the stock price will hit $270 – the lowest price target among other banks. Goldman Sachs set a price target at $340, which is 30% higher than the current levels.
Just to remind you, Microsoft is not only Office 365, it’s a lot more! Think of Xbox and Teams. The company's cloud offerings are Azure infrastructure services, Office 365 productivity software, and Dynamics enterprise software. Besides, Microsoft owns LinkedIn, Skype, OneDrive, and GitHub.
Microsoft takes one of the leading positions in cloud computing among Google and Amazon. After the coronavirus outbreak, cloud services become essential for most companies. In 2020, the company introduced Microsoft Cloud for Healthcare. In April 2021, it bought Nuance, a leading provider of artificial intelligence services for healthcare. You can hardly find any more important industries amid the Covid-19 pandemic than cloud computing, AI, and healthcare. It seems that Microsoft is engaged in almost all high-potential industries!
Microsoft is moving inside the ascending channel. Now, it’s getting closer to the psychological mark of $270.00. It’s unlikely to break it on the first try as the RSI indicator is approaching the 30.0 level, which signals the stock will be soon overbought. However, if Microsoft surprises investors on June 24, it may skyrocket! Keep updated! Support levels are at the low of June 16 at $255.00 and the 100-day moving average of $245.00.
Don't know how to trade stocks? Here are some simple steps.
The G20 summit took place in Bali, Indonesia, on November 2022…
The deafening news shocked the whole world yesterday: the British Queen Elizabeth II died peacefully at the age of 96…
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
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