In a bid to bolster its Edge browser, Microsoft is rolling out an incentive program aimed at encouraging users to choose Edge over its more popular counterpart, Chrome. This initiative offers users 1,300 Microsoft Rewards points for continuing to use Edge, particularly when they search for Chrome on Bing. These points can be redeemed for gift cards or donated to charity, presenting a unique twist on user engagement.
Despite this strategic move, the response from investors has been lukewarm, with Microsoft shares experiencing a slight dip in trading. The Edge browser currently holds a market share of 15.48%, while Chrome dominates the landscape with a commanding 69.3%. Interestingly, the incentive appears to be targeted exclusively at Chrome users, as searching for other browsers like Opera or Brave does not trigger similar offers.
Switch Hitting?
In a related development, Nintendo has expressed curiosity regarding Microsoft’s reluctance to fully embrace the potential of Switch ports. While Microsoft has begun porting some of its titles to the Switch, the company seems more inclined to focus on its partnership with Sony and the PlayStation platform. Former Nintendo of America president Reggie Fils-Aime remarked on the missed opportunities, suggesting that several Xbox games could find a welcoming audience on the Switch. This perspective raises questions about Microsoft’s broader strategy in the gaming market.
Is Microsoft a Buy, Hold or Sell?
On Wall Street, analysts maintain a positive outlook on Microsoft, with a Strong Buy consensus rating for MSFT stock. In the past three months, 34 analysts have issued Buy ratings, reflecting confidence in the company’s future performance. Following a notable 19.63% increase in share price over the last year, the average price target for MSFT stands at 3.14 per share, indicating a potential upside of 24.77% from current levels.
