Microsoft Hikes Prices for Office and its Stock Prices Experience a Rise
The running week has started with promising figures for Microsoft as the company’s stock prices experienced a rise since Monday (August 23, 2021) trading. According to sources, the stock prices for Microsoft have experienced a rise following the rise in products the company is launching.
As a result of the recent move made by Microsoft, its stock prices have ended up experiencing a rise starting Monday trading. According to analysts, it is a reasonable call by Microsoft to increase the price of its highest selling products.
The analysts have backed the decision of Microsoft to increase the prices of the products in the upcoming year. Microsoft has announced that it will be increasing the subscription prices for the Office 365 productivity software products. The tech giant has announced that the price for these products will be lifted in the upcoming year.
The data shows that the stock prices for Microsoft ended the Monday trading at a price of $304.65 per share. This helped the company reach a market capitalization of $2.3 trillion. Ever since the pandemic has hit the world, the stock prices for the company have been performing really well so as all the products it has to offer.
This is the reason why Microsoft has reported a significant rise in its revenue and profits in the last twelve months. The running year has proven to be even more promising for Microsoft as its business has grown even bigger in the running year.
In the running year, Microsoft has even crossed the market capitalization of $2 trillion and has also doubled its revenues compared to the year 2020. Since the beginning of 2021, Microsoft has recorded an overall rise of 37% in its share prices. In the race of providing services and products to its users, Microsoft has successfully surpassed all its rivals and competitors.
However, the only tech giant that has surpassed Microsoft in terms of gains is Alphabet, the parent company of Google. The company has reportedly experienced a 60% surge in its gains in the entire year of 2021.
Despite the rising number of profits and revenues for Microsoft, the analysts still have not made any changes to their estimates. Microsoft has announced that with the high revenues and profits being generated in the recent quarters, Microsoft will be boosting and developing its foundational sector.
Microsoft has announced that in the fiscal year that ended on June 30, the company generated 18% of the total revenue through commercial sales of Office 365 products.
This information has been gathered and shared by the analysts currently working for Goldman Sachs. The senior analyst from Goldman Sachs who presented the report around Microsoft’s revenues