Guggenheim analysts changed their rating on Microsoft (NASDAQ:MSFT) shares, upgrading them from Sell to Neutral. As a result, there are no longer any analysts on the sell side providing a Sell or equivalent rating for Microsoft.

The analysts acknowledged that their previous recommendation to sell Microsoft was a significant misjudgment. The analysts admitted their mistake, stating that they had reservations about potential challenges that, in the end, did not materialize. Nevertheless, they find the positive outlook for Generative AI too strong to ignore.

These challenges encompassed difficulties faced by the Windows operating system and the broader PC market, which initially saw a boost in demand during the COVID-19 pandemic but eventually revealed that this surge was unsustainable, according to the analysts.

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