After announcing its Windows 11 operating system, Microsoft (MSFT) has another major product up its sleeve. The software giant will soon be rolling out its desktop as a Windows Cloud PC service, according to a Wall Street analyst. Microsoft stock hit an all-time high on Tuesday.
Windows Cloud PC could be Microsoft’s “next killer platform,” Jefferies analyst Brent Thill said in a note to customers on Sunday. The desktop-as-a-service offering could be announced at a Microsoft partner conference in July, he said.
Microsoft first unveiled its Cloud PC project in July 2020. The product is built on Windows Virtual Desktop. Cloud PC would offer both an operating system and subscription productivity apps, according to media reports.
Windows Cloud PC should initially resonate with small and medium-sized businesses, Thill said.
Microsoft stock hits record high
Thill reiterated his buy rating on Microsoft shares and raised his price target to 310 from 290.
In the afternoon of trading today, Microsoft stock was up 0.6%, nearly 270.30. Earlier in the session, Microsoft stock hit an all-time high of 270.45.
“Microsoft heads into fiscal 2022 in search of the next stage of growth through new product initiatives, including more integrated teams and Windows 11, which bring a more modern user interface, improved security, and new Windows Store policies to entice developers, ”Thill said.
Microsoft unveiled its Windows 11 personal computer operating system on June 24. It will be available this holiday season as an upgrade for qualifying Windows 10 PCs and on new PCs.
On June 21, Microsoft stock hit a buy point of 263.29 on a cup basis, according to IBD MarketSmith charts. The 5% buy zone extends to 276.45, based on IBD trading guidelines.
Microsoft shares are listed on the IBD Leaderboard and Long-Term Leaders action lists.
Follow Patrick Seitz on Twitter on @IBD_PSeitz for more articles on consumer technology, software, and semiconductor stocks.
YOU MAY ALSO LIKE:
Nvidia is the “clear leader” in AI chips, but the competition is increasing
Lattice Semiconductor Expands Enthusiasm For New Chips
Is Microsoft Stock a Buy As Software Giant Hits $ 2,000 Billion Market Cap?
Find winning stocks with MarketSmith pattern recognition and custom screens
View stocks on the leader list near a point of purchase