The idea of cloud-based services is not new. But technology giant Microsoft (MSFT) is taking it to a whole new level with its Microsoft 365 Cloud Link. And this major new development is leaving investors cautiously optimistic.
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The Microsoft 365 Cloud Link is currently available on a limited basis, mostly in Canada and the U.S. A few other countries have access to it too, and apparently sales will start going wider in April 2025 when the device comes out for retail at $349. The Cloud Link is basically a device that allows users to access a cloud-based desktop and interact with it, using the cloud’s processing power to carry out tasks and display the results on the Cloud Link.
It has reportedly proven useful for “hot desking” operations like call centers, where users do not have an established desk, but rather a workspace location that can change from day-to-day. Effectively, they carry their desktops with them, regardless of where they go.
Ignite Delivers Some Heat
Microsoft also rolled out some news from its Ignite event geared toward information technology (IT) professionals. Some of the news was mundane, like a changed icon for the Microsoft 365 app, but some of it was groundbreaking, like a planned adoption of the Azure AI Foundry as Microsoft’s “unified” platform for AI applications.
Finally, a new report makes it clear that those looking for a new console this Black Friday will be in luck: the Xbox Series X will be discounted going into Black Friday shopping. While Microsoft’s status in the gaming community has been somewhat concerning of late—with some wondering if there even will be an Xbox in the future—for now it is still in play, and shoppers will be able to get one for $249.99 during Black Friday shopping.
Is Microsoft a Buy, Hold or Sell?
Turning to Wall Street, analysts have a Strong Buy consensus rating on MSFT stock based on 26 Buys and three Holds assigned in the past three months, as indicated by the graphic below. After a 10.68% rally in its share price over the past year, the average MSFT price target of $495.33 per share implies 18.90% upside potential.
