#6 - Microsoft (NASDAQ:MSFT)
Microsoft (NASDAQ:MSFT) has not been immune from the market sell-off. However, there was talk since the beginning of the year that Microsoft was overbought and investors were probably looking to take some profit. However, MSFT stock is down about 15% for the year and looks like it’s trying to form a base.
The reason I’m optimistic about Microsoft’s recovery has to do with Teams, the company’s entry into the productivity software space. Teams is a newcomer to a space in which Slack (WORK) is an established competitor. Like Slack, Teams combines features of social networking with productivity and collaboration tools. Employees can instant message and share files.
However, Microsoft Teams is growing faster than Slack and Teams will be an attractive addition to the company’s Office 365 suite of products. In fact, one of the catalysts for Microsoft is that they have an existing relationship with many customers. And as they continue to expand in cloud computing, via its Azure platform, it has an easy point of entry to introduce customers to Teams.
About Microsoft
Microsoft Corporation develops and supports software, services, devices and solutions worldwide. The Productivity and Business Processes segment offers office, exchange, SharePoint, Microsoft Teams, office 365 Security and Compliance, Microsoft viva, and Microsoft 365 copilot; and office consumer services, such as Microsoft 365 consumer subscriptions, Office licensed on-premises, and other office services.
Read More - Current Price
- $436.60
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 26 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $508.46 (16.5% Upside)
