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Microsoft Stock Nears Buy Point Ahead Of Windows 11 Reveal

Software giant Microsoft (MSFT) saw its shares retreat 10% in the days after it reported its March-quarter results. But Microsoft stock has been rebounding lately.

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The next catalyst for Microsoft stock could be a June 24 event to reveal what’s next for the Windows operating system. It’s not exactly clear what the company plans to unveil, but analysts think Microsoft could announce Windows 11, a successor to Windows 10, which came out in July 2015.

“I haven’t been this excited for a new release of Windows since Windows 95,” Yusuf Mehdi, a Microsoft corporate vice president, said in a June 2 post on LinkedIn.

Next week’s event is important, given that Windows accounts for 26% of Microsoft’s revenue and 28% of its earnings per share, Rosenblatt Securities analyst John McPeake said in a recent note to clients.

Media reports indicate that Windows 11 will include a refreshed user interface and design. It also could sport deeper integration with Microsoft’s cloud services.

McPeake reiterated his buy rating on Microsoft stock with a price target of 301.

On the stock market today, Microsoft stock rose 0.8% to 259.89.

Microsoft Stock Has Formed Cup Base

Over the past seven weeks, MSFT stock has formed cup base with a buy point of 263.29, according to IBD MarketSmith charts. That buy point is 10 cents above its record high of 263.19, reached on April 27, the day it was to report its fiscal third-quarter earnings.

After the close that day, Microsoft beat Wall Street’s estimates for the period ended March 31 thanks to strong sales of cloud computing services. It also guided higher for the current quarter. But Microsoft stock fell 2.8% the next day. MSFT stock continued to slide before bottoming at 238.07 on May 12.

Microsoft Chief Executive Satya Nadella promoted the next-generation Windows release during the company’s recent Build conference.

“Soon we will share one of the most significant updates to Windows of the past decade to unlock greater economic opportunity for developers and creators,” Nadella said. “I’ve been self-hosting it over the past several months and I’m incredibly excited about the next generation of Windows.”

Report by PATRICK SEITZ

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