One of the top performing spaces to be in during the pandemic was in video conferencing services, with Zoom Communications (ZM) being a clear winner. However, other companies offer services, including free services, that could provide a better offering for users amid the latest variant.
One company getting into the space has a history of dominating in the top positions of every tech category it gets into.
That company is Microsoft (MSFT), and its Team program has already been a strong player. Now, the company is unveiling Teams Essentials, a new version designed for smaller businesses.
Added to the company’s strong position in operating software, video games, and even social media and web services, and this could create another profit center for the big tech giant, allowing it to move even higher, even as the pandemic continues.
Action to take: Shares are only about 6 percent off their all-time highs following the latest market selloff. On a drop of 10 percent or more, investors should definitely consider adding shares for the long haul. Shares currently yield about 0.8 percent, but the company has a history of growing its dividend over time.
For investors, the April $350 calls, last going for about $13.75, offers a way to inexpensively bet on a rebound in shares. The option is a bit pricey, but offers mid-to-high double-digit returns in the months ahead, and profits could come quickly on a rebound.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.