It’s not a great week to be Microsoft (NASDAQ:MSFT), as the tech giant got hit with a flood of bad news all at once that overshadowed some major developments. And investors weren’t exactly happy with events as they were presented, either, and Microsoft lost fractionally in Thursday afternoon’s trading.
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Microsoft released Copilot Plus PCs this week, offering a valuable new connection to artificial intelligence (AI) for the home user market. That could have been quite a coup, but Microsoft found itself ultimately distracted by the release of Recall, a feature where desktops would be regularly photographed and the results sent home to Microsoft for analysis. Unsurprisingly, this left users deeply concerned.
Microsoft moved quickly to blunt the flow and made Recall a “coming soon” feature, but the damage was, sadly, done. This comes at a bad time for Microsoft, as internal surveys find that fewer employees believe they’re getting a “good deal” working there.
Brace Yourself for Gamescom
If E3 was the big game show of the summer, then Gamescom was the big game show of Europe’s summer. Gamescom, traditionally a German affair that often rivaled E3, will run August 21-25, and Microsoft will be at the event in force. With a range of games to show, including “Avowed,” “Fallout 76,” and multiple Blizzard expansions, Microsoft plans to deliver. Moreover, it’s going to deliver at a time when its two biggest rivals—Sony (NYSE:SONY) and Nintendo (OTHEROTC:NTDOY)—will be missing in action from the event.
What Is the Prediction for Microsoft Stock?
Turning to Wall Street, analysts have a Strong Buy consensus rating on MSFT stock based on 34 Buys and one Hold assigned in the past three months, as indicated by the graphic below. After a 34.18% rally in its share price over the past year, the average MSFT price target of $499.90 per share implies 12.36% upside potential.
