Home Artificial Intelligence Microsoft Stock Copilots AI Boom With ServiceNow As Nvidia Smashes Targets Again

Microsoft Stock Copilots AI Boom With ServiceNow As Nvidia Smashes Targets Again

Magnificent Seven stocks like Amazon.com (AMZN), Alphabet (GOOGL), Nvidia (NVDA) and even a rebounding Apple (AAPL) continue to make good on their nickname as they trade at or near all-time highs. With Nvidia gapping up on earnings, Microsoft stock is now testing a breakout and record high of its own.


But with the exception of Nvidia, Microsoft and these other Mag 7 names closed down Thursday as the Nasdaq reversed lower. Microsoft and Amazon have both slipped below their 50-day moving averages.

Interestingly, none of the Magnificent Seven made this month’s list of new buys by the best mutual funds, including Microsoft (MSFT), Nvidia, Apple, Amazon and Google stock. But the artificial intelligence boom and demand for these titans of tech continues, as evidenced by their stock performance.

After Nvidia smashed targets after the close Wednesday, the AI powerhouse soared past the 1,000 mark with its relative strength line hitting a 52-week high. While off the day’s highs, Nvidia still etched more than an 9% gain. Microsoft stock has dipped just under 1% in below-average volume, ending below its buy zone.

Microsoft And ServiceNow Double Up On AI Assistants

Earlier this month, Microsoft and leading enterprise software firm ServiceNow (NOW) expanded their strategic alliance. The goal is to leverage their combined generative-AI capabilities.

The Microsoft-ServiceNow collaboration aims to integrate both firms’ generative AI assistants into one seamless experience. The companies say that melding ServiceNow’s Now Assist platform with Microsoft Copilot will make it easier to create value for enterprise workers. The partnership also looks to help employees unlock new avenues to improve productivity.

The combined tools within Microsoft 365 aims to help quickly eliminate friction for employees. Specifically, Copilot will be able to hand off employee requests to Now Assist in Microsoft Teams. Now Assist will provide employees with responses to questions as well as recommend actions and next steps in a conversational manner.

Microsoft Stock Teases New Breakout

After teasing a breakout on Wednesday, Microsoft reversed lower to trade below its 430.82 buy point in a flat base.

While trending generally sideways this year, the relative strength line for Microsoft stock perked up while forming the right side of its base. A solid breakout would establish a new all-time high for Microsoft, which went public in 1986.

Meanwhile, Amazon failed to hold support at its 50-day moving average. Apple stock continues to work on a base with a 196.38 buy point but also encountered selling pressure on Thursday. Like Microsoft, Google stock ended Wednesday’s trading within striking distance of a record high but pulled back as the Nasdaq retreated from Thursday’s highs.

Boosted by its rosy quarterly report, Nvidia soared out of buy range from a 922.20 entry in a cup with handle. It closed at 1,038.26, above its buy range from an alternative entry at 974.

Follow Matthew Galgani on X (formerly Twitter) at @IBD_MGalgani.


Nvidia Does It Again, Smashes Quarterly Targets, Raises Outlook (Live Coverage)

Nvidia Dethroned: This AI Chip Stock Now Rules This Elite Screen

Stock Picks: Google, Nvidia Reveal 7 Telltale Traits To Monitor

Generate New Stock Ideas With IBD Stock Screener

Identify Bases And Buy Points With This Pattern Recognition Tool





Denial of responsibility! TechCodex is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
DMCA compliant image

Leave a Comment