Microsoft Launches SkyDrive App for iPhone and Windows Phone
Microsoft‘s (NASDAQ:MSFT) SkyDrive is a personal cloud storage service, which competes with the likes of Dropbox, Amazon (NASDAQ:AMZN) Cloud Drive and Apple (NASDAQ:AAPL) iCloud among others. Microsoft has been updating the SkyDrive service frequently, adding new features like Office integration. It has now launched a SkyDrive app for Apple’s iOS and its own Windows Phone platform, in order to attract more users. [1] An Android app for SkyDrive is probably in the offing too. We currently have a $32 Trefis price estimate for Microsoft, which stands nearly 25% above its current market price.
Microsoft Trying to Capture Cloud Storage Market Share
Cloud based storage is a rapidly expanding market, which a lot of startups are trying to capture. Dropbox, the market leader, recently raised funding at a $4 billion valuation and is compatible with all major platforms. Microsoft, Amazon and Apple have already launched cloud storage offerings while Google is expected to be launching its own personal cloud storage solution soon.
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Bing, MSN and other Online Services account for around 2% of Microsoft’s $32 Trefis price estimate.
We don’t expect SkyDrive revenues to impact Microsoft’s stock price in any significant way, as Microsoft offers SkyDrive for free to users, to attract customers to its other services and products, and doesn’t generate any revenue directly from it.
Understand How a Company’s Products Impact its Stock Price at Trefis
Notes:- Introducing SkyDrive for iPhone and Windows Phone, Inside Windows [↩]