Microsoft (MSFT) shut its retail stores permanently in 2020 and turned its focus to digital retailing. But the company will once again start selling products to customers who visit its Experience Centers. Beginning July 1, customers will have a chance to buy Microsoft products at the company’s Experience Centers in New York City, London, and Sydney, according to a report from The Verge.
The company will initially only offer a limited product selection. Customers will have access to Surface devices, Xbox-related products, and Microsoft 365 subscriptions. However, due to the global chip shortage, the Xbox Series X and S consoles will not be immediately available for purchase, according to the report.
“Our Microsoft Experience Centers were created to provide customers a way to experience our products in person,” Microsoft’s head of retail stores said Travis Walter told The Verge. The executive added that Microsoft uses the centers “to test and experiment.”
Although Microsoft customers will again have a chance to buy products in a physical location, it doesn’t mean the company is bringing back its retail stores. Customers will not have the option to order items online to collect in-store. (See Microsoft stock analysis on TipRanks)
Morgan Stanley analyst Keith Weiss recently reiterated a Buy rating with a price target of $300 on Microsoft stock. This implies 18.30% upside potential.
The analyst believes Microsoft’s revenue will continue to grow and profit margins will improve and cites Microsoft CEO Satya Nadella’s prediction that the IT market’s share of the global GDP will double to 10% from 5%.
Consensus among analysts is a Strong Buy based on 26 Buys. The Microsoft average analyst price target of $297.96 implies 17.50% upside potential to current levels.
According to TipRanks’ Hedge Fund Trading Activity tool, confidence in MSFT is currently Positive. The cumulative change in holdings across all 64 funds that were active in the last quarter was an increase of 5 million shares.
Related News:
Entravision Expands into Southeast Asia with MediaDonuts Acquisition
UPS Releases 2023 Financial Targets and New ESG Targets; Shares Plunge 4.2%
North American Construction Group Snaps up DGI Trading for $23.5M
