Microsoft
MSFT
Excel has announced a handful of changes that are set to make formulas easier to use and even more powerful. The spreadsheet software updates are centered around web users, which cover all Microsoft 365 (formerly Office 365) users, even those without access to the full desktop clients.
The first change for web users is the introduction of formula suggestions, which take into account contextual data to suggest a handful of supported formulas, including SUM, AVERAGE, COUNT, COUNTA, MIN and MAX.
Secondly, the company has introduced Formula by Example, which is similar to the Flash Fill feature. After a user completes a series of similar entries, the web version of Excel can automatically detect and suggest content for remaining cells based on their previous actions or patterns.
Further improvements include a tool that can detect broken cloud workbook links so that the data in your spreadsheet remains up-to-date and functioning and a new search bar in the queries pane for quicker navigation.
Excel has rolled out a function for adding images with alt-text into tables coming to Windows, Mac and web; and the company is also adding nested Power Query data types and the ability to get data from dynamic arrays to the Insider version of the Windows app for testing.
These endeavors are expected to further boost demand for the company’s 365 suite which has already witnessed robust adoption in the preceding quarters. In first-quarter fiscal 2023, Office 365 commercial revenues rallied 11% (up 17% at cc), driven by Office 365 Commercial seat growth of 14%. Continued momentum in the small and medium businesses, as well as in frontline worker offerings, drove top-line growth.
Microsoft Corporation Price and Consensus
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Upgraded Features Win Multiple Partnerships
Microsoft has always been known for making continuous upgrades in its applications to provide efficient working platforms for users.
It now plans to introduce a new premium version of the Teams chat and conferencing app that will generate summaries of meetings with chapters and personalized highlights. This will eliminate workers’ FOMO (fear of missing out) about important discussions and allow them to skip meetings they don’t need to attend and catch up later.
In the first half of 2023,
Cisco
CSCO
and Microsoft will offer the ability to run Microsoft Teams natively on Cisco Room and Desk devices Certified for Microsoft Teams with the option of Teams as the default experience. Cisco will become a partner in the Certified for Microsoft Teams program for the first time.
Another significant collaboration of Microsoft was closed with
Meta Platforms
META
, where Microsoft Teams will integrate with Meta’s Quest devices and provide a way to stream Windows apps to Meta’s Quest Pro VR headsets. This will let Microsoft expand its reach to Meta’s large audience.
As part of the collaboration, Microsoft will enter a new productivity-focused virtual reality and augmented reality program with Meta. This will let Microsoft bring some of its most popular remote-working software to the Metaverse, gaining traction from Metaverse users.
Independent Service Vendors like Adobe and Workday have built deep integrations with Teams. More than 100,000 companies, including Johnson & Johnson, Lumen Technologies and Progressive Insurance have deployed a custom line of business apps in Teams. The number of third-party and line-of-business apps with active usage increased by 40% year over year.
However, the company faces stiff competition from
Alphabet
’s
GOOGL
Google Meet which rolled out an account-switching feature for users with multiple accounts on their devices, making it more convenient. Further, it also updated Meet with a default link handling capability so that meeting links open on the new Google Meet app instead of Meet (Original).
Microsoft, which currently has Zacks Rank #3 (Hold), has lost 30.3% of its share price year to date compared with Alphabet, which declined 40.6% in the same time frame. Zacks
Computer & Technology
Sector was down 36.8%.
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