There’s no need to worry about Microsoft (NASDAQ:MSFT), however, as this company is constantly developing new ideas. Sensible investors can confidently trust Microsoft stock to follow an upward growth trajectory this year, earning it a “B” grade.
We’re not going to claim that everything is 100% perfect with Microsoft. For example, Microsoft just got slapped with a $242 million patent-infringement lawsuit. Microsoft is a capital-rich tech juggernaut. The company frequently discovers new concepts and potential revenue sources, such as artificial intelligence enhanced eye-care solutions.
There’s no telling what Microsoft might be up to next, so let’s dive into some top-of-mind developments that investors need to know now.
Microsoft to Launch a Mobile Game Store Soon
Here’s a whopper of a news item for you. In case you missed the Bloomberg Technology Summit, Microsoft (according to Bloomberg) will “launch its own mobile game store in July.”
Now, here’s the twist you didn’t see coming. Microsoft plans to launch its mobile-game store on the web instead of via an app. Xbox President Sarah Bond explained why the company is choosing to start this new store on the web:
“[W]e’re doing that because that really allows us to have it be an experience that’s accessible across all devices, all countries, no matter what, independent of the policies of closed ecosystem stores, and then we’re going to extend from there.”
In other words, Microsoft is aiming for interoperability and universality. Microsoft’s new mobile-game store will surely start off with a bang, as it will feature popular game titles like Minecraft and Candy Crush. So, if you’ll pardon the pun, this online store could truly be a game changer.
Microsoft-Backed Business Could Threaten Google
Here’s another fresh development that you can’t afford to miss. As first reported by Reuters followed by Barron’s, sources say that Microsoft-backed OpenAI will launch a competitor to Alphabet’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google search engine.
As you’re surely aware, OpenAI made a huge impact with its ChatGPT generative-AI chatbot. Microsoft, meanwhile, has a sizable stake in OpenAI’s machine-learning technology.
This is potentially bad news for Alphabet, which derives significant revenue from Google’s search engine. As for Microsoft, only time will tell whether an OpenAI-developed search engine can actually steal market share from Google.
Still, just consider the revenue-generation possibilities for OpenAI and Microsoft if a new, AI-powered search engine gains traction.
Microsoft Stock: A Solid Tech Holding for 2024
Like every other company, Microsoft will encounter issues and challenges. However, don’t lose sight of what makes Microsoft a great business. The company is on a constant quest to develop new, innovative technology concepts.
That’s why Microsoft remains a powerful revenue generator and a serious threat to the company’s competitors. Microsoft stock earns a solid “B” grade and investors can choose to hold it in 2024 with confidence.
On the date of publication, Louis Navellier had a long position in MSFT. Louis Navellier did not have (either directly or indirectly) any other positions in the securities mentioned in this article.
The InvestorPlace Research Staff member primarily responsible for this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article.