Tuberville is Capitalizing on a Microsoft Stock Rally
Senator Tommy Tuberville disclosed late last week that he sold $250,000 - $500,000 worth of Microsoft shares on June 20, when the stock closed at $338.05. Shares gained a further around 2% since the day when the sale occurred as Microsoft (MSFT:US) continues to benefit from the AI-fueled rally.
Sen. Tuberville decided to capitalize on the year-to-date rally in Microsoft stock, which is up about 44% since the start of the year. His actions also came just a few weeks before the company is set to report results for its fiscal year 2023 fourth quarter on July 25.
A prominent tech analyst, Wedbush Securities’ Daniel Ives, recently predicted that Microsoft could become the next $3 trillion company, therefore joining Apple (AAPL:US) in this exclusive club.
“In this ‘Game of Thrones’ battle for AI market share we view the enterprise as the golden-goose opportunity as we estimate the AI market opportunity is an $800 billion market over the next decade,” Ives wrote in a note to clients.
The analyst argues that generative AI will fuel the next level of growth for Microsoft as the company continues to integrate ChatGPT technology across its entire product portfolio, including the search engine Bing.
Microsoft received another boost recently after a U.S. court judge ruled that the Redmond-based Titan can close its Activision Blizzard (ATVI:US) merger.
Besides Tuberville, Congresswoman Nancy Pelosi disclosed late last month that her husband Paul exercised call options to purchase 5,000 MSFT shares at a strike price of $180.
