CNBC Investing Club Raises Microsoft to $550 and Salesforce to $290 as Software Rally Extends
Updated
Updated · CNBC · Sep 3
CNBC Investing Club Raises Microsoft to $550 and Salesforce to $290 as Software Rally Extends
2 articles · Updated · CNBC · Sep 3
Summary
$550 for Microsoft and $290 for Salesforce mark new CNBC Investing Club price targets after both stocks climbed past prior targets of $500 and $250.
Microsoft has risen about 25% since its July 29 earnings, while Salesforce is up 29% since Aug. 26, as investors grow more confident AI will not displace enterprise software vendors.
Microsoft is getting credit for stronger Microsoft 365 Copilot traction and disciplined AI infrastructure spending, while Salesforce could get another catalyst from its Dreamforce conference in two weeks.
The broader market also helped: Treasury yields fell after Fed Governor Christopher Waller backed holding rates steady, cutting implied odds of a Sept. 15-16 hike to 52% from 63%.