Microsoft Stock Dips Despite Xbox Cloud Gaming Expansion
Microsoft (MSFT) shares slipped Friday despite announcing the expansion of its Xbox Cloud Gaming service to Brazil and Argentina. The MOVE follows a recent rollout in India, part of the company's broader strategy to make Xbox accessible across devices and regions.
The 'Everything is an Xbox' initiative has seen Microsoft release games on rival platforms like Sony's PlayStation and Nintendo Switch. This pivot comes after lackluster sales of the Xbox Series X|S, which underperformed compared to previous generations.
Cloud gaming remains a key growth area as Microsoft competes with Sony and Amazon in the $200 billion global gaming market. The service allows Game Pass subscribers to stream titles without downloads, appealing to mobile users and emerging markets with bandwidth constraints.