Microsoft aims for $600 stock target by 2028 while building billion-dollar AI business in China

Analysts project that Microsoft’s share price could reach $600 by 2028, with some forecasts extending to $680, citing broad adoption of its AI models in subscription services as a key revenue driver. The stock traded around $379 in 2026 after slipping from a yearly high of $481.

At the same time, Microsoft is expanding a large AI and cloud operation in China. Chinese technology firms including ByteDance, Ant Group, Meituan and Tencent are reported to spend over US$1 billion annually on Azure and OpenAI models, positioning Microsoft as a primary AI infrastructure provider in a market where many U.S. rivals have limited presence. The development raises regulatory, security and intellectual‑property considerations for the company.