Hedge fund veteran Dan Ives believes one Mag 7 technology stock is undervalued and will soon post massive gains.
In a new interview with CNBC, Ives He says Microsoft (MSFT) could rise more than 30% from its current value as artificial intelligence (AI) is expected to start generating revenue for the company after extensive investments in the technology.
“(Microsoft) is defending its territory. They’re going after developers, and that’s really front and center of this arms race that we’re seeing, and I think those are the important steps, not just on Copilot and the build, but what Azure will eventually be, and that’s why I think the market right now is mis-pricing Microsoft into what I think will continue to be the monetization phase that will happen over the next six to 12 months.”
Ives believes Microsoft will reach $575, an increase of more than 34% from the stock price of $427 at the time of writing.
Ive also says that AI technology is still in its early stages and will transform civilization in the coming years.
“My view is that we’re still in the third round of the AI revolution in terms of where this nine-in-one game is going. We can definitely have ebbs and flows in this market, but when you look at Alphabet, they’re front and center, they’re at the top of the mountain right now. Amazon has clearly narrowed the gap. Microsoft is clearly doing a lot of great things with respect to Azure…
“We are talking about years, and we are talking about the Fourth Industrial Revolution in terms of what they are going for.”
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