Microsoft Corporation (MSFT) Next-Gen Xbox Gaming Console Coming

Microsoft Corporation (NASDAQ:MSFT) has dropped some big news on its gaming plans at E3 2018. A next-gen Xbox console is on the way, as is a network that should bring a smile to the face of gamers.

Ars Technica has the scoop on Microsoft’s plans.

Microsoft plans to deliver “console quality gaming on any device”—PC, Xbox, or phone—with a “game streaming network” that the company is developing, said Executive President of Gaming Phil Spencer at the company’s E3 press conference.

This isn’t the first time that Spencer has spoken of such development. At the Xbox One X launch last year, he said that Microsoft would have a game streaming service within three years, taking advantage of Azure’s substantial global footprint to ensure that data center distance—and hence in-game latency—was low enough to enable high quality gaming.

For the consoles, Spencer indicates that the company is “deep into architecting the next Xbox consoles.” He boldly provlaimed that they will “set the benchmark for console gaming.”

Microsoft is not alone on looking towards a streaming gaming network, as EA has recently announced its own cloud streaming service.

Microsoft Corporation shares fell $0.05 (-0.05%) in premarket trading Tuesday. Year-to-date, MSFT has gained 19.20%, versus a 4.80% 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 66 stocks in the Software – Application category.