Microsoft (MSFT) to Launch an App to Make Hybrid Work Easier
Microsoft Corporation MSFT recently announced that it will be launching an app that will help hybrid workers decide the right time to go to the office.
The app will let users know when a large number of their co-workers plan to be in the office or attend a meeting in person and also show when a workspace is likely to be pretty empty to help managers make decisions about electricity, heating and cooling that can save money.
This feature will especially be beneficial for companies in Europe to save fuel during the upcoming winter as they face electricity shortages due to the Russia-Ukraine war.
Upgraded Features on Teams Win Multiple Partnerships
Microsoft has always been known for making continuous upgrades in its applications to provide efficient working platforms for users.
It now plans to introduce a new premium version of the Teams chat and conferencing app that will generate summaries of meetings with chapters and personalized highlights. This will eliminate workers’ FOMO (fear of missing out) about important discussions and allow them to skip meetings they don’t need to attend and catch up later.
Microsoft recently partnered with Cisco Systems to add its Teams messaging app to the latter’s meeting devices.
Another significant collaboration of Microsoft was closed with Meta Platforms META, where Microsoft Teams will integrate with Meta’s Quest devices and provide a way to stream Windows apps to Meta’s Quest Pro VR headsets. This will let Microsoft expand its reach to Meta’s large audience.
As part of the collaboration, Microsoft will enter a new productivity-focused virtual reality and augmented reality program with Meta. This will let Microsoft bring some of its most popular remote-working software to the Metaverse, gaining traction from Metaverse users.
Microsoft Corporation Price and Consensus
Microsoft Corporation price-consensus-chart | Microsoft Corporation Quote
Microsoft Teams has been a vital part of the company’s growth ever since the beginning of the COVID-19 pandemic as institutions shifted to a work/study-from-home setup. Teams Phone is the market leader in cloud calling across voice over Internet protocol (VoIP). The public switched telephone network now has over 12 million users, nearly double the number from a year ago.
Independent Service Vendors like Adobe and Workday have built deep integrations with Teams. More than 100,000 companies, including Johnson & Johnson, Lumen Technologies and Progressive Insurance, have deployed a custom line of business apps in Teams. The number of third-party and line-of-business apps with active usage increased by 40% year over year.
Microsoft Teams Faces Stiff Competition
Despite the growing demand for Microsoft Teams, the company faces major headwinds from stiff competition.
Microsoft, which currently has Zacks Rank #3 (Hold), has lost 32.8% of its share price year to date compared with Alphabet GOOGL and Zoom Video Communications ZM, which declined 32.6% and 59.1%, respectively, in the same time frame. Zacks Computer & Technology Sector was down 37.8%.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Alphabet’s Google Meet recently rolled out an account-switching feature for users with multiple accounts on their devices, making it more convenient. Further, it also updated Meet with a default link handling capability so that meeting links open on the new Google Meet app instead of Meet (Original).
Zoom recently announced a broad range of updates in various business units. Zoom Meetings and Webinars are now more user-friendly with the interpretation of sign language. Zoom Whiteboard, which gained traction on its launch, has now added features such as tables to organize content, mind maps to create flow charts and @mentions in the comments to directly connect to a colleague.
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