Other analysts seem to agree. Out of 58 analysts that cover the stock on Wall Street, 39 rate it a "buy" and 14 rate it a "strong buy," according to Yahoo! Finance. The software giant is preparing to spend $80 billion on data centers specifically for training, deploying, and operating cloud-based AI applications.

Apple and other big U.S. companies reporting fatter profits than expected are helping Wall Street shave off its sharp losses from the start of the week on Friday. The S&P 500 was 0.7% higher in morning trading.

Tesla, IBM and Meta Platforms helped lead most U.S. stocks higher following a rush of profit reports from some of the country’s most influential companies. The S&P 500 climbed 0.5%