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MSFT Stock Hits Record High Before June 24 Microsoft Event

UTC by Bhushan Akolkar · 2 min read
MSFT Stock Hits Record High Before June 24 Microsoft Event
Photo: Depositphotos

Monday’s price surge has helped Microsoft register 18% gains year-to-date with analysts setting up a $300 price target for the MSFT stock.

On Monday, June 21, the stock of Microsoft Corporation (NASDAQ: MSFT) touched a record high with some big news brewing up. The MSFT share price surged 1.23% on Monday closing at $262.63. With Monday’s uptick, the MSFT share price has surged 18% since the beginning of 2021. 

Analysts are also having high expectations from the upcoming Microsoft Event scheduled this Thursday, June 24. There is a high expectation that Microsoft CEO Satya Nadella will be unveiling the next-generation Windows 11. Currently, the company boasts of serving over 1.3 billion users worldwide. During the recent earnings call, CEO Satya Nadella said:

“People are turning to Windows PCs more than ever to stay connected productive and secure. Windows 10 now has more than 1.3 billion monthly active devices and Microsoft 365 consumer surpassed 50 million subscribers for the first time.”

Microsoft Expands Its Footprint in AI, Cloud Computing

Software giant Microsoft is giving competitors like Amazon and Google a tough run for their money in the cloud computing business. In a move for expanding its market footprint in AI and cloud-computing capabilities, Microsoft purchased Nuance.

The company specialized in developing conversational AI and cloud-based ambient clinical intelligence for health care providers. The purchase comes just a year after Microsoft introduced the Microsoft Cloud for healthcare in 2020. Nuance serves more than 55% of physicians and 75% of radiologists in the United States.

The Microsoft Cloud division clocked $17.7 billion in commercial cloud revenue during Q1 2021. This was a massive 33% increase in the numbers year over year.

Morgan Stanley Gives New Record Price Target for Microsoft

Morgan Stanley analyst Keith Weiss has recently upgraded Microsoft stock (MSFT) to an overweight rating. The recent rating upgrade after attending the E3 event from Microsoft’s Xbox CFO Tim Stuart.

The software computing giant is focusing on its Xbox Game Pass gaming franchise. With this, the company aims at improving its content engagement and building stronger monetization channels. With Xbox Game Pass, the three main areas where the company is currently focusing are Content, Community and Cloud.

Microsoft calls Content as the key driving force that has helped Game Pass hit 100 million subscribers. Besides, Microsoft is also aiming to build the Community of the core gamer base reaching millions of gamers worldwide.

With this multi-pronged approach, Microsoft is smartly looking to diversify its business while capturing the next big gaming market.

Artificial Intelligence, Business News, Cloud Computing, Market News, News
Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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