Microsoft Stock Went up When the Company Rebranded Microsoft Office to Microsoft 365.

Microsoft Stock

Microsoft Stock (NASDAQ: MSFT)

Microsoft recently announced that it would rename its Microsoft Office software suite to Microsoft 365. This will be the company’s most significant rebranding attempt in over three decades.

Microsoft (NASDAQ: MSFT)  has announced that the Office mobile app, Office.com, and Office for Windows will each get a new icon, style, and more capabilities. Additionally, applications such as Office, PowerPoint, Outlook, and Excel will be included in the Microsoft 365 program. As a result, Microsoft stock surged in the market.

According to Microsoft (NASDAQ: MSFT), which has its headquarters in Redmond, Washington, the updates will begin to roll out for Office.com in the next month. The Office app for Windows and the mobile app will get the updates in January 2023.

Microsoft (NASDAQ: MSFT) has stated that the Office brand will continue to exist in some capacity, even though Microsoft (MSFT) 365 will serve as the central hub for the company’s productivity software. The company will “continue to offer one-time purchases of those apps to consumers and businesses via Office 2021 and Office LTSC plans,” according to Microsoft’s statement.

Microsoft (NASDAQ:MSFT) said that no changes would be made to the Office 365 subscription plans.

Microsoft said on Wednesday that Apple will introduce several of its most popular services on its platforms in the near future. One of these services is Apple Music.

Featured Image-  Megapixl @ Boggy

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About the author: I'm a financial journalist with more than 3 years of experience. I have worked for different financial companies and covered stocks listed on ASX, NYSE, NASDAQ, etc. I have a degree in marketing from Bahria University Islamabad Campus (BUIC), Pakistan.