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Microsoft (MSFT) stock is moving higher these days to reach new ATHs. The company is going to launch its cloud gaming service publicly in September.
As globalization probably shifts towards a new norm of life due to social distancing caused by coronavirus pandemic, tech giant company Microsoft Corporation (NASDAQ: MSFT) is set to reap most out of it. The company has significantly benefited from the stay at home orders and also social distancing rules set to curb the spread of the coronavirus. Especially because of Microsoft cloud services which allow people to work remotely at the comfort of their homes.
Its stock has been reaching new highs in the past month, after breaking out on February’s ATH around $187. However, in the past five days, the shares have shed around 5% despite being on a rising trend. Further analysis of its past year performance, the company has generally delivered to its shareholders. Yesterday, the stock was 1.98% down, at $203.92. Currently, in the pre-market, it is 0.17% up.
In the past year, they have added 49.48%, added 29.31% YTD, added 15.18% in the past three months, and jumped around 4% in the past one month.
With a market cap of around $1.58 trillion at the time of publication, the company has enough cash to burn to see it through the pandemic despite the challenges.
In the past 52 weeks, MSFT shares ranged between $130.78 and $216.38. The high volatility was last observed during the Black Thursday in March when most stock markets crashed at an unprecedented rate.
Better Days Ahead for Microsoft with Launch of Cloud Gaming Service
Despite the recent successes in its businesses, Microsoft is stopping at nothing to keep its customers satisfied and gaining more from its competitors.
On Thursday, Phil Spencer, the head of Microsoft’s Xbox unit said that xCloud would be launched for free to customers of its Xbox Game Pass subscription service.
“We’re bringing Xbox Game Pass and Project xCloud together at no additional cost for Xbox Game Pass Ultimate members,” Spencer said. “With cloud gaming in Game Pass Ultimate, you will be able to play over 100 Xbox Game Pass titles on your phone or tablet.”
“The fact the feature is free means that usage of the technology is likely to be widespread across the subscriber base and will give many the first taste of this distribution technology, its advantages, and its limitations,” said Piers Harding-Rolls, the research director of games at analytics firm Ampere Analysis.
Other news from the gaming industry you can find here.