Selected stock price target news of the day - January 10th, 2024

By: Matthew Otto

Microsoft’s AI Advancement in Battery Tech

In a groundbreaking collaboration with the Pacific Northwest National Laboratory, Microsoft has successfully employed artificial intelligence to accelerate the identification of a potential battery material that could reduce lithium requirements by 70%. The innovative approach, combining AI models trained on molecular science data and traditional scientific supercomputers, allowed Microsoft to narrow down over 32 million possibilities to 18 candidates. The PNNL scientists are now engaged in evaluating these candidates to determine their suitability for mass production. This technology could reduce the reliance on expensive and geopolitically concentrated lithium, replacing it with sodium, a more abundant and cost-effective element. The implications extend beyond battery technology, with potential applications in areas such as automotive and energy grids.

Analysts Raises Microsoft Price Target

BMO Capital analyst Keith Bachman maintained an Outperform rating and raised the price target from $400 to $420.

Which Analyst has the best track record to show on MSFT?

Analyst Mark Murphy (JPMORGAN) currently has the highest performing score on MSFT with 22/24 (91.67%) price target fulfillment ratio. His price targets carry an average of $68.63 (21.69%) potential upside. Microsoft stock price reaches these price targets on average within 92 days.

Apple Faces Third Downgrade Amid Growth and Regulatory Concerns

Apple faced its third downgrade from investment firm Redburn. Analyst James Cordwell revised the rating from buy to neutral, emphasizing a limited upside in the coming years, with concerns about the March quarter potentially impacting iPhone growth. Additionally, rising regulatory risks, especially in Europe regarding app store policies, add to the apprehension. With Barclays and Piper Sandler having previously downgraded Apple over worries about iPhone sales, the cumulative effect has prompted caution among analysts, as reflected in Redburn’s recent move.

The market sentiment towards Apple seems to be experiencing a shift, with valuation concerns playing a significant role. Redburn’s downgrade follows a trend where Apple’s price-to-earnings ratio has surpassed that of Nike for an extended period, prompting Cordwell to highlight a full valuation.

Analysts Downgrades: Cautious on Growth

Redburn Atlantic analyst James Cordwell downgraded from Buy to Neutral rating and maintained a $200 price target.
KeyBanc analyst Brandon Nispel maintained a Sector Weight rating.

Which Analyst has the best track record to show on AAPL?

Analyst Toni Sacconaghi (BERNSTEIN) currently has the highest performing score on AAPL with 62/70 (88.57%) price target fulfillment ratio. His price targets carry an average of $16.25 (9.09%) potential upside. Apple stock price reaches these price targets on average within 204 days.