Guggenheim's $586 price forecast implies that shares of Microsoft could rise 12% from here.
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Goldman Sachs' $600 price target implies that shares of Microsoft could rally 49%.
Microsoft could stage a comeback as the technology firm's AI push starts to show signs of paying off, several analysts said.
Analysts are overwhelmingly bullish heading into Microsoft's fiscal fourth-quarter earnings.
It's still early days for Microsoft's artificial intelligence business, according to Wells Fargo.
Microsoft is likely to see some upside from its push to integrate AI into its 365 offering, according to Goldman Sachs.
The tech giant is on pace to join Nvidia in the $4 trillion market cap club.
