Microsoft Stock (NASDAQ:MSFT) Slips, Intune Tool May Have Been Used Against Stryker

Tech giant Microsoft MSFT -0.04% ▼ recently joined a coalition effort to take on online scammers, and considering how its tools have been used in scamming, it is little surprise that is the case. New reports suggest that Microsoft’s tools may have been used in the recent attack on Stryker SYK +0.68% ▲ . That revelation gave investors pause, and shares slipped fractionally in Tuesday afternoon’s trading.

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Reports suggest that Microsoft Intune might have been part of the attack on Stryker, which led to 50 terabytes of data being stolen from Stryker servers and the loss of information from “…thousands of servers and mobile devices…” as well. The Stryker attack apparently hit devices that used an Intune base 64 string, which included remote wipe commands that the attacker used to delete data.

Forrester analyst Paddy Harrington noted that the revelation does not do much damage to Microsoft itself, but rather, simply displays a “living-off-the-land” technique to bypass security systems. Thus, the damage to Microsoft here will be comparatively minimal, as there was little Microsoft could have done to prevent this from being an issue in the first place.

A “Make-or-Break Moment”?

Meanwhile, some are starting to consider Project Helix a very big step for Microsoft. This is true, on the surface. A new console is always a big step, but some are going so far as to consider this a “make-or-break moment” for the company. Circana’s Mat Piscatella noted that Project Helix units could ultimately come out for over $1,000 each, which is the first time a console has ever cost four figures.

But Microsoft may have little choice here. Some see this as “…the final evolution of the strategy started with the Xbox One.” This is a move to get people out of the console cycle altogether, and that means a focus on PC gaming.

Is Microsoft a Buy, Hold or Sell?

Turning to Wall Street, analysts have a Strong Buy consensus rating on MSFT stock based on 33 Buys and three Holds assigned in the past three months, as indicated by the graphic below. After a 4.28% rally in its share price over the past year, the average MSFT price target of $594.02 per share implies 48.63% upside potential.

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