Microsoft Stock (NASDAQ:MSFT)
Microsoft (NASDAQ:MSFT) commemorates 10 years of Microsoft 365 by introducing a new Microsoft 365 tier: Microsoft 365 Basic, a new low-end subscription tier designed to cater to existing OneDrive subscribers. This should help bring new customers and revenues, which should, in turn, help drive Microsoft stock higher.
Microsoft 365 Basic will cost $1.99 per month or $19.99 per year and includes 100 GB of OneDrive cloud storage and removing advertisements from the Outlook web and mobile clients. Under the plan, Microsoft also provides enhanced security features in Outlook. These features include mailbox data encryption, malware scanning, and more.
Microsoft emphasized that web-based Office apps will be available to Microsoft 365 Basic subscribers. Users can also contact Microsoft 365 and Windows 11 support via phone and online chat. However, it does not include the Office desktop apps already available to Microsoft 365 Personal and Family subscribers.
Additionally, the plan will provide users access to Microsoft’s technical support. Users can contact Microsoft support via phone or online if they are experiencing problems with Windows 11 or Microsoft 365 apps.
On January 30, Microsoft 365 Basic will replace Microsoft’s 100 GB OneDrive plan. All subscribers to the standalone OneDrive plan will be automatically upgraded to Microsoft 365 Basic. This change, however, will not affect Microsoft 365 Personal or Microsoft 365 Family plans.
Finally, Microsoft announced that the new Microsoft 365 app for web users is now available. The app will replace the current office.com portal and will be available to Windows, iOS, and Android users at the end of this month.
Other Enhancements to Improve Workflow and Processes
Microsoft has consistently updated its software offerings to assist businesses with daily operations. Strong adoption of Microsoft 365 is expected to help top-line growth in the short term.
Revenues from Office Consumer products and cloud services increased 7% (up 11% at cc) in the third quarter of fiscal 2022, driven by growth in Microsoft 365 consumer subscription revenues. Microsoft 365 Consumer subscribers increased 13% year on year to 61.3 million.
Microsoft Teams, Lists, and Forms have all received updates to help streamline processes. Microsoft Excel announced many changes last month that are intended to make formulas easier to use and more powerful. The spreadsheet software updates are centered on web users, and they apply to all Microsoft 365 (formerly Office 365) users, including those who do not have access to the full desktop clients.
It plans to launch a new premium version of the Teams chat and conferencing app, which will generate meeting summaries with chapters and personalized highlights. Workers will no longer be afraid of missing important discussions and will be able to skip meetings they don’t need to attend and catch up later.
Cisco (NASDAQ:CSCO) and Microsoft will offer the ability to run Microsoft Teams natively on Cisco Room and Desk devices Certified for Microsoft Teams, with Teams as the default experience. For the first time, Cisco will be a partner in the Certified for Microsoft Teams program.
Microsoft also announced a significant collaboration with Meta Platforms (NASDAQ:META), in which 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 allow Microsoft to reach out to Meta’s large audience.
However, Alphabet’s (NASDAQ:GOOGL) Google Meet, made account switching more convenient for users with multiple accounts on their devices. Furthermore, Meet has been updated with a default link handling capability, so that meeting links now open on the new Google Meet app rather than Meet (Original).
Microsoft stock lost 22.6% of its share price last year, while Alphabet stock lost 34%.
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