Microsoft (NASDAQ:MSFT) didn’t get to be one of the biggest names in cloud computing, gaming, and technology in general by sitting still. No, it took a wide array of developments to make Microsoft the kingpin it is today. Though we’ve already seen several developments in the last 24 hours, several more have emerged, giving Microsoft just a fractional jump up in share price in the closing minutes of Tuesday’s trading session.
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Perhaps the biggest lead for Microsoft was a planned three-year project with Hitachi (OTHEROTC:HTHIY) that would see several Microsoft products added to Hitachi’s lineup. For instance, Microsoft Cloud and GitHub Copilot would be added to Hitachi’s Lumada, which would drive the overall adoption rate for generative artificial intelligence (AI) systems.
Microsoft then followed that up by revealing the location of its next data center, an unlikely target at best: LaPorte, Indiana. Indiana governor Eric Holcomb noted that Microsoft would put $1 billion behind that data center, a 245,000-square-foot operation built on 489 acres at the Radius Industrial Park.
Brisk Flow of Gaming Developments
With Microsoft’s summer games showcase set to hit this Sunday, some details are starting to slip out a little early, as they tend to do ahead of major events. One report suggests that “Starfield,” which proved a bit disappointing, may have a major announcement to come thanks to some backend code found on Steam. While it’s largely impossible to tell from the backend just what’s coming, the fact that there have been a large number of changes suggests that it’s something. Further reports suggest a portable version of the Xbox might get an exhibition during the big event, as well as a potentially new first-party release.
Is Microsoft a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Strong Buy consensus rating on MSFT stock based on 32 Buys and one Hold assigned in the past three months, as indicated by the graphic below. After a 24.35% rally in its share price over the past year, the average MSFT price target of $491.90 per share implies 18.2% upside potential.
