Microsoft stock (NASDAQ: MSFT) opened Tuesday’s trading session at $418 and remains rangebound in the charts. For a month, MSFT has declined nearly 1.5%, leading to no price spurts. Its price has stagnated and is mostly trading sideways in May. Several Wall Street analysts argue that the software giant is consolidating in value and could soon break out in price.

Early this year, billionaire Bill Ackman sold his Google stock holdings worth $3.2 billion and reinvested the profits in Microsoft. He clarified that the sell-off has nothing to do with Alphabet’s performance, but is only a strategic and planned move, a rerouting of funds for better prospects through MSFT. The billionaire is confident that Microsoft stock could surge further due to the AI boom.

Also Read: Highest Price Target Google Stock Can Reach in 12 Months

Microsoft Stock Price Prediction: Where Will MSFT Reach in 12 Months?

Leading financial research firm StockAnalysis predicts that Microsoft stock could reach a 12-month high of $870 in the next 12 months. That’s the most bullish projection made by an analytical firm compared to other Wall Street peers. The overall analysts’ consensus on MSFT remains a ‘strong buy,’ urging traders to accumulate before the next bull run.

According to the price prediction, Microsoft stock could double in price during the same time next year. The forecast estimates that MSFT could skyrocket by another 108% from its current value of $418. Therefore, an investment of $1,000 could turn into $2,000+ if the price prediction turns out to be accurate. That’s phenomenal returns, as not every asset in the market can double a trader’s money in a year.

This makes Microsoft stock a must-watch on the investor’s list. The second-highest bullish price prediction for MSFT came from Tigress Financial analyst Ivan Feinseth. According to his estimates, the software titan could reach a high of $680, which is an uptick of approximately 62%. $1,000 could turn into $1,600+ if his bullish projections turn out to be accurate.