Microsoft Corporation (MSFT) Expands Cortana, But Still Distant 3rd In Market

In the smart home devices market, Microsoft Corporation (NASDAQ:MSFT) is a distant third to dominant players Google and Amazon. However, the tech giant has announced plans to expand Cortana’s compatibility, which could lead to more features being introduced in the future.

The Verge has the details on Microsfot’s plans.

Today, Microsoft announced that its digital assistant, Cortana, will now work with IFTTT and a number of new smart home devices, such as the Ecobee, Honeywell Lyric, and LIFX. To set them up, just open Cortana on Windows 10 or launch the Cortana app and add the new products under the Connected Home menu.
The IFTTT compatibility helps open Cortana up to a number of new third-party services. Rather than wait for third-party companies to offer new Cortana features, just as they do for Amazon Alexa skills, users can find “recipes” that already exist on IFTTT’s platform and connect them to their Cortana-enabled device.

Microsoft first entered the marketplace last Fall with the introduction of the first Cortana smart speaker, the Harmon Kardon Invoke. The speaker hit shelves with a price tag of $199, but it has been slashed in half as it struggles to capture attention.

While Google and Amazon remain well ahead of the pack with its popular Home and Echo devices, Microsoft’s willingness to open up compatibility with other smart home devices could lead to some increased interest for its devices in the future.

Microsoft Corporation shares were trading at $92.80 per share on Tuesday afternoon, up $0.80 (+0.87%). Year-to-date, MSFT has gained 9.00%, versus a 2.44% rise in the benchmark S&P 500 index during the same period.

MSFT currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #1 of 65 stocks in the Software – Application category.