This Big Name Tech Play Could Explode Tomorrow!
While markets pull back for the second day in a row, tech stocks are having a profit party.
After a quiet start the week, the Nasdaq Composite jumped ahead to lead the major averages higher Wednesday afternoon. The FANGs took control as the Nasdaq doubled up the performance of the S&P 500 by the afternoon bell.
Netflix (NASDAQ: NFLX) posted new all-time highs following a strong afternoon rally. Amazon (NASDAQ: AMZN) shot above this week’s narrow trading range to close above $1,600. Facebook (NASDAQ: FB) also had a strong day as it continues to repair the damage caused by its data breach scandal.
Yesterday’s strong action from Big Tech is good sign that many other big names will soon take off too.
Micron’s run-up over the past few days is a perfect example.
But today I want to focus on another well known tech company gearing up for a big move.
That company is Microsoft Corp. (NASDAQ: MSFT). The big news with MSFT is they recently purchased artificial intelligence startup Semantic Machines, thrusting the blue chip tech giant into the voice wars.
While we’re not sure if MSFT will successfully compete with Amazon and its Alexa software in this space, the stock is reacting favorably.
MSFT shares consolidated perfectly over the past two months, shaking off market weakness and pushing toward 2018 highs. After opening lower yesterday, the stock stormed higher in the final hour of trading to close at new highs.
And earlier today we were blessed with new news that should be another great catalyst for MSFT.
According to TechCrunch, MSFT and Publicis Groupe, one of the largest marketing and communications companies in the world, have partnered to create a new AI powered ad platform, called Marcel.
The recent Facebook scandal proved big data equals big bucks for companies. Using powerful AI to analyze the wealth of data companies have is the future of advertising.
According to MSFT’s website: “The Marcel platform will use cognitive services and AI to empower Publicis Groupe’s people, clients, and business to seamlessly collaborate.”
Specifics of this include:
- Creating the ability to make useful connections between Publicis’ 80,000 employees.
- The ability to collect, organize and curate Publicis Groupe’s collective knowledge to pair people for faster, better solutions to operational problems.
- Most importantly, the new system will give every employee the power to participate and create more, beyond their immediate boundaries.
In a press release from MSFT’s website, CEO Satya Nadella notes:
“AI is one of the most transformative technologies of our time, but its real power lies in how it can be applied to amplify human ingenuity. And that’s the beauty of Marcel. At Microsoft, we believe that people no longer just work for companies – companies need to work for their people. Marcel embodies that belief. That’s what makes this collaboration so seamless and natural.”
The partnership is a match made in heaven.
MSFT executives and engineers have worked tireless to expand and grow their AI projects. And at a first look it appears MSFT could have hit the jackpot with this deal.
Moral of the story here… don’t sleep on Microsoft.
Next stop could $100… or beyond!
For Technology Profits Daily,
Chief Investment Expert