Microsoft, Amazon And Google Among Best AI Investment Bets: Analysts

TD Cowen has expressed increased optimism for the prospects of major cloud computing vendors including Amazon Inc AMZNMicrosoft Corporation MSFT, and Google-parent Alphabet Inc GOOGL GOOG, driven by the potential of generative artificial intelligence (AI) projects, Barron’s reported.

Cowen’s technology analyst team maintained Outperform ratings for these tech behemoths, based on their recent annual survey results from 680 U.S. technology customers.

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The team stated, “Cloud computing's cost savings cycle makes way for burgeoning Gen AI.”

The survey results indicated a positive outlook for Amazon Web Services, Microsoft Azure, and Google Cloud Platform.

The survey indicated that 76% of respondents were likely to conclude their cost optimization or efficiency programs for cloud spending by the end of the year. Furthermore, generative AI projects topped the list of cloud priorities for about 75% of the survey buyers planning to spend on them in the next three years.

TD Cowen set the stock price target at $165 for Amazon, $390 for Microsoft, and $150 for Alphabet. As of Monday, Amazon shares rose 1.8% to $131.42, Microsoft fell 0.2% to $316.24, and Alphabet traded up 0.4% to $130.79.

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Image Credits – Shuttertcock


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