Microsoft (MSFT) is releasing Forza Horizon 5 on Sony’s (SONY) PlayStation 5 this spring as it continues to develop Xbox as a multiconsole gaming brand. Before this, Forza Horizon 5 was exclusive to Xbox consoles and PC. The open-world racing game will add PS5 players to its crossplay alongside PC and Xbox consoles.
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Xbox is also releasing all previous Forza Horizon 5 content alongside the PS5 release. These will be available as separate purchases. The game developer is also planning a free content update that will be released on all consoles following its PS5 launch.
Microsoft’s Multiconsole Expansion
Microsoft has been pushing to release more Xbox games on other game platforms as it rebrands as a multiconsole developer. That’s seen the company promise to release other games on PS5, such as the upcoming DOOM: The Dark Ages.
Microsoft has also maintained a friendly relationship with Nintendo (NTDOY) over the last several years. That’s resulted in several Xbox games being released on the Nintendo Switch. Xbox head Phil Spencer recently said this practice will continue when the Switch 2 releases later this year.
It makes sense that Xbox is focused on multiconsole releases instead of maintaining exclusives. The video game company has struggled to keep up with Sony’s PlayStation and Nintendo consoles this generation. That’s resulted in 28.3 million sales for the Xbox Series X/S, compared to 65.6 million for the PS5, and a whopping 146.04 million for the Nintendo Switch.
Is MSFT Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus estimate for Microsoft is Strong Buy based on 28 Buy and three Hold ratings over the last three months. With that comes an average price target of $510.53, a high of $600, and a low forecast of $425. This represents a potential 22.91% upside for MSFT stock.
