Microsoft (MSFT) stock was up on Monday after the tech giant’s Xbox leadership commented on the state of its next video game console. Xbox President Sarah Bond said that the company is still developing a next-generation Xbox with the help of Advanced Micro Devices (AMD). That collaboration makes sense, as the current generation of Xbox, the Series X/S, is powered by AMD’s technology.
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On the topic of the next Xbox, Bond said, “We have our next-gen hardware in development. We’ve been looking at prototyping, designing. We have a partnership we’ve announced with AMD around it, so that is coming. What we saw here was an opportunity to innovate in a new way and to bring gamers another choice, in addition to our next-gen hardware. We are always listening to what players and creators want. When there is demand for innovation, we’re going to build it.”
Bond also discussed the controversial pricing of the ROG Xbox Ally. She noted that prices were set by ASUS (ASUUY), the manufacturer of the handheld gaming PC, and not Xbox. The Xbox President also defended this pricing and noted that preorders for the $1,000 model sold out.
Microsoft Stock Movement Today
Microsoft stock was up 0.71% on Monday, extending a 23.29% year-to-date rally. The shares have also increased 22.64% over the past 12 months. Investors will note that these gains are largely tied to Microsoft’s PC business, including its recent AI efforts, and not just from its gaming division.
Is Microsoft Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Microsoft is Strong Buy, based on 32 Buy and a single Hold rating over the past three months. With that comes an average MSFT stock price target of $631.44, representing a potential 22.08% upside for the shares.
