Live from the announcement of the Windows 11 operating system. Microsoft (MSFT) has another major product on hand. Wall Street analysts said the software giant will soon launch Windows Cloud PCs on desktops as a service. Microsoft shares hit a record high on Tuesday.
Windows Cloud PCs could be Microsoft’s “next killer platform,” Jefferies analyst Brent Thill said in a note to customers Sunday. The desktop as a service offering could be announced at Microsoft’s partner conference in July, he said.
Microsoft first revealed the Cloud PC project in July 2020. Built on Windows Cloud PC virtual desktops, this product will offer both the operating system and production applications on a subscription basis according to media reports.
Thill says Windows Cloud PCs should be in line with small and medium-sized businesses.
Microsoft shares hit an all-time high.
Thill reiterates its acquisition of Microsoft shares and raises price target to 310 from 290.
On the stock market today, Microsoft shares were up 1% to 271.40 earlier in the session. Microsoft shares hit a record 271.65.
“Microsoft is entering fiscal year 2022, looking for further growth through new product initiatives including Teams and more integrated Windows 11. which brings a more modern user interface Increased security and new Windows Store policies to motivate developers,” said Thill.
Microsoft released the Windows 11 personal computer operating system on June 24, which will be available this holiday season. It’s an upgrade for eligible Windows 10 PCs and on new PCs.
On June 21, Microsoft shares hit a buy point at 263.29 from the base cup based on the IBD MarketSmith chart. The 5% buy zone expanded to 276.45 following the IBD trading guidelines.
Microsoft stock is on the list of IBD Leaderboard and Long-Term Leaders stocks.
Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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