Microsoft Surges on AI Momentum, Goldman Sachs Boost
Microsoft (MSFT) is making significant gains on Monday's trading session, its share price up 5.2% as of 1:50 p.m. ET.
This rally follows a broader market surge, with the S&P 500 rising 1.4% and the Nasdaq Composite up 2.1%, due in part to news that the U.S. and Iran are negotiating to end the war and reopen shipping lines through the Strait of Hormuz.
Software stocks, particularly those focused on artificial intelligence (AI), are driving this market momentum.
Goldman Sachs recently added Microsoft to its U.S. Conviction List, reaffirming a buy rating with a price target of $640 per share and citing the company's position in AI and enterprise integration as key factors.