The AI rally seems back for now, though it is very likely to be temporary due to the macros and tariffs. MSFT stock is still down 8.3% from its peak and could continue rallying in the meantime. The consensus price target of $503.3 implies 17.3% upside.

West Coast tech giants Microsoft and Meta both exceeded analyst forecasts in first-quarter earnings reports Wednesday.

Microsoft blamed “market conditions” and rising costs of production for the need to increase the prices of its Xbox consoles.

Microsoft announced Thursday that it raised prices on its Xbox consoles and accessories, just weeks after the Trump administration announced its tariffs.