It was reported today that Microsoft’s next billion dollar business could be launching today which is being seen as a huge positive by investors on the street. Microsoft could be unveiling PowerApps which are a set of applications that the company described as its next billion dollar business for cloud and enterprise. It is important to state that little is known about the set of services besides integration with Azure. Azure is the company’s set of cloud services for business and mobile apps. The company said that it is chartered to build rich and engaging mobile apps that pull together information from across enterprise and consumer sources and make it easier for Information Workers.
Many industry experts believe that PowerApps are designed to harness mobile sensors such as cameras, GPS etc. and use them alongside Azure. Many analysts on the street are seeing this as a huge positive for the company and a step in the right direction as more and more businesses move towards cloud computing. Technology experts believe that the mere integration of cloud computing with apps and other information sources is a huge positive. Analysts on the street continue to remain positive about the company’s growth trajectory under Satya Nadella.
When looking at the charts for Microsoft Corporation, the stock has been trending higher since the beginning of the year and has outperformed the broader indices. The stock currently trades above all important daily moving averages. The momentum indicators for the stock have given a sell signal which is a cause for concern for traders and investors and indicate towards the shift of momentum towards the sell side. The relative strength index exhibits no signs of inherent bullish bias which is a bearish signal. Traders believe the stock could head to levels of $50.80 in the near term.