#3 - Microsoft (NASDAQ:MSFT)
I’m allowing myself one big name here, but Microsoft (NASDAQ:MSFT) has two catalysts that are too big to ignore. First, the pandemic has led to the adoption of Microsoft Teams. This is an alternative to Slack (NYSE:WORK) and other workplace productivity tools. Teams is geared more for the enterprise level, but with many companies still contemplating the extent of their remote work plans, Microsoft looks to be a winner.
And the company is getting ready to launch a new version of its popular Xbox gaming console. That will pull in sales from the gaming community, which by the way has been red hot in this pandemic.
Microsoft is not without its headwinds. There is mounting evidence that traders are closing positions with the expectation that Microsoft will back off from its bid to buy TikTok. But that may work to the benefit of opportunistic investors. The stock is widely thought of as being near a top. Shaving a few dollars off the share price should make for a nice buy-on-the-dip opportunity.
About Microsoft
Microsoft Corporation develops and supports software, services, devices and solutions worldwide. The Productivity and Business Processes segment offers office, exchange, SharePoint, Microsoft Teams, office 365 Security and Compliance, Microsoft viva, and Microsoft 365 copilot; and office consumer services, such as Microsoft 365 consumer subscriptions, Office licensed on-premises, and other office services.
Read More - Current Price
- $420.21
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 32 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $454.70 (8.2% Upside)
