Company Update (NASDAQ:MSFT): Microsoft Launches the Biggest Developer Event in Asia, Taking IoT Development in Taiwan to New Heights

[PR Newswire] – TAIPEI, Taiwan, April 19, 2016 /PRNewswire/ — A memorandum of understanding on establishing an “IoT Industry Development Center” was inked in October of 2015 between Ministry of Economic Affairs, Taiwan and Microsoft, to effectively integrate global and local partners in the ecosystem and accelerate the processes of developing IoT solutions. Under the commitment to helping its industry partners in Taiwan obtain the development tools and the latest interoperability technology from Microsoft, DevDays Asia 2016 @ Taipei, directed by Industrial Development Bureau, and hosted by Microsoft and Digital Content Industry Promotion Office, is the biggest developer event in Asia and officially kick-offed today. Read more on this. Microsoft Corporation (MSFT) , valued at $445.21B, started the session at $56.67. A quick look at the market, the company’s stock traded between $55.68 and $56.77 with a trailing 52-week range being $39.72 to $56.85. Priced at 20.53x this year’s forecasted earnings, MSFT shares are relatively inexpensive compared to the industry’s 21.02x forward p/e ratio. The company pays shareholders $1.44 per share in dividend income per year, for a current yield of 2.59%. In a review of the consensus earnings estimate this quarter, 29 sell-side analysts are looking at $0.64 per share, which would be $0.03 better than the year-ago quarter and a $0.04 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $2.75, which would be a $0.29 better when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $22.10 Billion. If realized, that would be a 1.70% increase over the year-ago quarter. In terms of ratings, Macquarie Initiated MSFT at Neutral (Mar 4, 2016). Previously, Morgan Stanley upgraded MSFT from Equal-Weight to Overweight. When considering if perhaps the stock is under or overvalued, the average price target is $58.80, which is 3.76% above where the stock opened this morning. See more in (NASDAQ:MSFT) Similar Articles: Market Update: Microsoft Corporation (NASDAQ:MSFT) – Xbox chief apologizes after Microsoft hires half-naked dancers for event Company Update (NASDAQ:MSFT): Once one of Microsoft’s biggest money pits, Bing is now eroding Google’s core business Stock Update: Microsoft Corporation (NASDAQ:MSFT) – MICROSOFT IS UP 10%: Here’s what a one-point move in MSFT does to the Dow