: Microsoft’s stock tracks toward first record close since July

Microsoft Corp. shares MSFT are up 1.4% in Tuesday morning trading to a recent $361.50. That puts the stock on for their first record close since July 18, 2023, according to Dow Jones Market Data. Shares would need to surpass $359.49 to clinch a new closing high. Microsoft shares are in the midst of their longest winning streak since Jan. 28, 2021, up eight trading days in a row and on pace to match the span of the 2021 streak. Microsoft is an investor in ChatGPT creator OpenAI, and UBS analyst Karl Keirstead weighed in positively on Microsoft Monday in the wake of an OpenAI developer conference. “Bottom line, what is good for OpenAI is good for Azure in our view. If OpenAI is now actively courting software developers to build apps using ChatGPT/GPT-4, lowering price points and improving model performance, it could drive greater OpenAI consumption of Azure and serve as a modest positive for Microsoft,” he wrote, referring to Microsoft’s Azure cloud-computing service.

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