Microsoft Positioned To Tap ChatGPT Wave In Its Favour: Analyst - Microsoft (NASDAQ:MSFT)

Keybanc analyst Michael Turits maintains Microsoft Corp MSFT with an Overweight, raising the price target from $270 to $316.
At its Inaugural Microsoft Secure event, MSFT made several exciting announcements that span several vital areas of cybersecurity, including cloud protection, threat intelligence, endpoint, IoT/OT, governance, and incident response.
MSFT launched Security Copilot, its new GenAI-powered security solution leveraging OpenAI's latest GPT-4 technology.
MSFT's Defender Cloud Security Posture Management (CSPM) provides organizations with end-to-end security visibility across their multi-cloud environments.
MSFT announced that its new Incident Security Response Retainer is now available for enterprises, governments, educational institutions, and non-profit organizations.
The Microsoft Intune suite, launched on March 1, provides users with critical endpoint management capabilities.
Microsoft announced its new fully-cloud Microsoft Defender for IoT security solution.
MSFT announced that Defender Threat Intelligence is now available for licensed customers directly within Microsoft 365 Defender.
MSFT's ongoing innovation in cybersecurity impressed the analyst, who more broadly believes the company is firmly positioned to capitalize on Generative AI.
Price Action: MSFT shares traded higher by 1.56% at $279.94 on the last check Wednesday.