At the Xbox E3 conference in Los Angeles, Microsoft Corporation (MSFT) revealed its next-generation Xbox game console, dubbed “Project Scarlett”, which is expected to be made available for purchase during the holiday season of 2020.
Microsoft shares closed higher for a fifth consecutive trading session on NASDAQ on Monday. The stock went up 0.91% ($1.20) to $132.60, after touching an intraday high at $134.09 and also a fresh all-time high.
Shares of Microsoft Corporation have surged 30.55% so far in 2019 compared with a 15.15% gain for the benchmark index, S&P 500 (SPX).
In 2018, Microsoft’s stock went up 18.74%, thus, it again outperformed the S&P 500, which registered a 6.24% loss.
The new device will be capable of showing rates of up to 120 frames per second, or twice as many than the standard TV, and will be four times more powerful compared to the Xbox One X. The new game console will be powered by an Advanced Micro Devices chip and will also be equipped with a solid-state drive, which will make it possible for games to load much more rapidly compared to loading on older mechanical hard drives.
The new Xbox will be released along with the newest version of Microsoft’s “Halo” video game, the tech giant said. Additionally, 14 game titles developed by Xbox Game Studios were announced. Among those titles is third-person shooter video game “Gears 5”, which is due to be released on September 10th 2019.
Meanwhile, Microsofts “Project xCloud” game-streaming service is expected to go into preview this October. “Project xCloud” was announced in October 2018, when Microsoft disclosed tests of a new game-streaming service, designed to work across PCs, game consoles as well as mobile devices.
According to CNN Money, the 29 analysts, offering 12-month forecasts regarding Microsoft Corp’s stock price, have a median target of $145.00, with a high estimate of $155.00 and a low estimate of $80.00. The median estimate represents a 9.35% upside compared to the closing price of $132.60 on June 10th.
The same media also reported that 27 out of 32 surveyed investment analysts had rated Microsoft Corp’s stock as “Buy”, while 1 – as “Hold”. On the other hand, other 1 analyst had recommended selling the stock.
Weekly Pivot Levels
By using the traditional method of calculation, the weekly levels of importance for Microsoft Corporation (MSFT) are presented as follows:
Central Pivot Point – $127.55
R1 – $136.10
R2 – $140.79
R3 – $149.34
R4 – $157.88
S1 – $122.86
S2 – $114.31
S3 – $109.62
S4 – $104.92
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