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Microsoft Corp. (MSFT - Free Report) recently announced that it is in process to introduce Edge browser, primarily built for Windows 10, to Apple’s (AAPL - Free Report) iOS and Google’s (GOOGL - Free Report) Android-based devices. The web browser, which will be compatible to iPhone, iPad and all Android devices, will be available at Apple’s App Store and Google Play.

The most lucrative feature of the browser, which is still in beta version, is to let the user open the tab that was in use in the mobile device from a large screen device like a laptop or Mac at one go. The most-visited websites or the ones marked as favorites as well as the saved passwords lie in sync between the user’s phone and his/her personal computer for the Edge browser.

Apart from Edge, management announced the release of Microsoft Launcher’s beta version for Android to enable the access to all Microsoft applications. This new application will also allow users to transfer files from the mobile device to Windows 10 at a faster pace.

Although a lot of features still need to be incorporated, this initiative from Microsoft’s end is anticipated to raise the adoption rate of Edge, thereby positively impacting Windows 10 adoption. This will eventually drive top-line growth..

Microsoft stock has gained 24.3% year to date, underperforming the 28.5% rally of the industry it belongs to.

Microsoft’s Strategic Initiatives

Apart from trying to make Edge a cross platform browser, Microsoft also recently upgraded Minecraft, making it compatible to different platforms including Xbox One, PC and VR headsets such as, Samsung’s Gear VR and Facebook’s Oculus Rift. We believe these consumer-friendly strategies will benefit the company going ahead.

Additionally, strong adoption of Office 365 and Windows 10 as well as Azure’s robust performance are helping Microsoft gain traction. Azure also aided the company to generate better-than-expected results in fiscal fourth-quarter 2017.

The recently announced collaboration between the company’s Cortana and Amazon's (AMZN - Free Report) Alexa is also a positive for the company’s long-term results. We also note that Microsoft’s upcoming console, Xbox One X, has a significant growth potential, evident from the record pre-orders.

Microsoft’s recent blockchain deals with Hapoalim, Accenture along with Coco framework’s unveiling emerge tailwinds for the company’s growth. Also, the company’s involvement in Quantum Computing is anticipated to be another key catalyst in the long run.

Zacks Rank

Microsoft currently carries a Zacks Rank #3 (Hold).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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