New reports claim tech giant Microsoft (MSFT) is working on new Xbox devices to attract gamers. The report claims this will start in 2025 with the release of an Xbox-branded handheld device. A third-party PC developer is reportedly working on this handheld, which will likely target the mobile PC gaming market dominated by Valve’s Steam Deck.
Finer details about the handheld Xbox, codenamed Keenan, are unknown. The exact release date, price, or components powering the handheld remain a mystery. Even so, speculation claims Microsoft will use the Xbox handheld to test out new Windows 11 features tied to gaming, such as device-aware capabilities and controller pairing.
On that same note, the report also claims Microsoft intends to release new controllers for its Xbox devices. However, these aren’t expected until 2027, which makes sense as Microsoft may have another surprise ready that year.
Microsoft Is Developing a Next-Gen Xbox Console
The same source behind the handheld and controller leaks claims Microsoft’s next video game console is in production. This has the gaming company targeting a 2027 release for the console, which will be a successor to the Xbox Series X.
This news alleviates fears that Xbox wouldn’t stick around as a console developer. Those concerns arose due to it spending much of this generation releasing its games on other consoles. This is part of Xbox head Phil Spencer’s strategy to turn everything into an Xbox, allowing the company to meet consumers where they choose to play.
That strategy is the result of the Xbox Series X/S not performing well this generation with 28.3 million sold, well below the 58 million Xbox One units sold. Rivals Sony (SONY) and Nintendo (NTDOY) have also easily outsold it this generation with 74.9 million PlayStation 5 units and 150.86 million Switch sales.
Is MSFT Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Microsoft is Strong Buy based on 28 Buy and three Hold ratings. With that comes an average price target of $507.54, a high of $600, and a low of $425. This represents a potential 33.98% upside for MSFT stock.
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