Bernstein raises Microsoft price target to $660 from $647, Outperform kept

Bernstein analyst Mark Moerdler raised his Microsoft price target to $660 from $647 and kept an Outperform rating, according to an article dated August 10, 2026. The implied upside was about 32% from the $499.99 close cited in that article. Moerdler argued that Microsoft is building AI capacity measuredly, with few hardware purchase commitments beyond 12 months, and can shift capacity to its CPU cloud business if AI demand slows.

• Price target $660, up from $647; Outperform maintained
• Implies about 32% upside from the $499.99 close cited
• Few power, cooling or hardware commitments beyond 12 months (Bernstein)
• Capacity can shift to CPU-focused cloud if AI demand slows