Tech giant Microsoft (NASDAQ:MSFT) is set to provide updates for its Gaming business on February 15. The rumors have been swirling around for some time now, as word about some Microsoft exclusives going multi-platform has emerged. Even some of the major Bethesda releases, like Starfield or Indiana Jones and the Great Circle, are poised for a multi-platform release.
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That led Microsoft Gaming CEO Phil Spector to announce, “We’re listening and we hear you,” before revealing that there would be an “Xbox business update” to fill in concerned gamers about what’s poised to happen to one of the three biggest gaming platforms around.
The Xbox Will Remain
One thing that seems to be off the table is the cancellation of the Xbox. Reports suggest that Microsoft already assured employees that the Xbox will be a thing going forward. There had been some unpleasant comparisons to Sega, which eventually became a large-scale game developer and little else, where formerly, it was a major player in the earliest console wars. Reports suggest there will be another Xbox coming soon, as it’s already in development. Given that the current one is about four years old, that’s not surprising.
What Is the Target Price for Microsoft Stock?
Turning to Wall Street, analysts have a Strong Buy consensus rating on MSFT stock based on 32 Buys, one Hold, and one Sell assigned in the past three months, as indicated by the graphic below. After a 54.7% rally in its share price over the past year, the average MSFT price target of $469.45 per share implies 13% upside potential.
