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Microsoft Corporation (MSFT) Revamps Office Product as Google Competition Intensifies

MSFT – Google’s cloud-based office apps continue to gain traction.

Changes are coming to Microsoft Corporation’s (NASDAQ:MSFT) venerable Office product, and they appear to be inspired by increasing competition. Google’s cloud-based office apps continue to gain market share, and that development has been an eye-opener for the Seattle-based tech giant that’s used to being the overwhelmingly dominant player in the space.   

CNBC has the details on Microsoft’s changes to Office.

Microsoft is redesigning its Office productivity apps to make them easier to use, as it faces stiffer competition from Google.

Microsoft said Wednesday it’s refreshing Office 365 apps, including Word, Excel, Outlook and PowerPoint, in part so that they’re more accessible for users with disabilities. The company is vastly reducing the size of the ribbon — the toolbar that for so many years has been loaded up with buttons.

Users that prefer the ribbon the way that it is can switch back with the click of a button. Jon Friedman, Office’s chief designer, is confident that the company is on the right track with the changes it’s introducing for its suite of Office products.

“We’re very confident that it’s a step in the right direction,” he said.

Microsoft Corporation shares were trading at $101.58 per share on Wednesday morning, up $0.27 (+0.27%). Year-to-date, MSFT has gained 19.83%, versus a 5.07% rise in the benchmark S&P 500 index during the same period.

MSFT currently has a POWR Rating of A (Strong Buy), and is ranked #1 of 66 stocks in the Software – Application category.

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