MSFT Stock Price and Quote: Microsoft Corporation trades flat on rumor of looming competition
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CLAIM OFFER- NASDAQ:MSFT gained $0.01 on Wednesday as broader markets remained mixed.
- Rumour of a rival buyout could shake up the at-work enterprise software industry.
- Microsoft hopes to hit it big this holiday season with its new XBox console.
NASDAQ:MSFT remained unchanged on Wednesday as investors took a breather before the American Thanksgiving holiday on Thursday closed the markets stateside. The stock gained a mere $0.01 per share which brought its price level heading into Thanksgiving to $213.87, right at Microsoft's 50-day moving average and slightly above its 200-day moving average, an indicator of how steady this blue-chip stock is for investors. With a 1.05% dividend yield, which is not always common in the tech sector, Microsoft sets up as a stable investment that investors can just set and forget in their portfolios for years.
The enterprise software sector was rocked on Wednesday as rumours of a merger between two industry giants gave Microsoft investors some pause. Salesforce (NYSE:CRM) is rumoured to be interested in buying out Slack Technologies (NYSE:WORK) which sent Slack’s stock skyrocketing nearly 40%. The merger would threaten to cause a disruption to the industry, of which Microsoft’s Teams application has a healthy share of. At one point in time, Slack was a target of Microsoft, but rather than go ahead with a buyout, Microsoft simply built Teams from its own tools to compete with Slack.
MSFT stock forecast
There is nothing surprising these days about Microsoft’s steady performance as the tech giant continues to shift its focus from an enterprise software company to a cloud-based solutions firm with its Azure platform. Microsoft is also banking on another healthy holiday season with the combination of the COVID-19 pandemic continuing quarantines around the world, and the release of its new video game console: the XBox Series X.
- NASDAQ:MSFT gained $0.01 on Wednesday as broader markets remained mixed.
- Rumour of a rival buyout could shake up the at-work enterprise software industry.
- Microsoft hopes to hit it big this holiday season with its new XBox console.
NASDAQ:MSFT remained unchanged on Wednesday as investors took a breather before the American Thanksgiving holiday on Thursday closed the markets stateside. The stock gained a mere $0.01 per share which brought its price level heading into Thanksgiving to $213.87, right at Microsoft's 50-day moving average and slightly above its 200-day moving average, an indicator of how steady this blue-chip stock is for investors. With a 1.05% dividend yield, which is not always common in the tech sector, Microsoft sets up as a stable investment that investors can just set and forget in their portfolios for years.
The enterprise software sector was rocked on Wednesday as rumours of a merger between two industry giants gave Microsoft investors some pause. Salesforce (NYSE:CRM) is rumoured to be interested in buying out Slack Technologies (NYSE:WORK) which sent Slack’s stock skyrocketing nearly 40%. The merger would threaten to cause a disruption to the industry, of which Microsoft’s Teams application has a healthy share of. At one point in time, Slack was a target of Microsoft, but rather than go ahead with a buyout, Microsoft simply built Teams from its own tools to compete with Slack.
MSFT stock forecast
There is nothing surprising these days about Microsoft’s steady performance as the tech giant continues to shift its focus from an enterprise software company to a cloud-based solutions firm with its Azure platform. Microsoft is also banking on another healthy holiday season with the combination of the COVID-19 pandemic continuing quarantines around the world, and the release of its new video game console: the XBox Series X.
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