NEW YORK (TheStreet) -- Microsoft (MSFT) unveiled 'Cortana' to much fanfare during its Build developer conference in San Francisco this morning.
Cortana is Microsoft's answer to Apple's (AAPL) SIRI and Google's (GOOG) Now mobile phone applications.
The digital assistant is part of the overhaul of the Windows Phone operating system Windows Phone 8.1.
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Microsoft share's are down 0.3% to $41.31 in trading Wednesday.
Voice activated Cortana is powered by Microsoft's Bing search engine and is designed to "get smarter" as it is used more. The updated software is expected to be made available to consumers over the next few months while new phones will be pre-installed with the update by the end of this month.
TheStreet Ratings team rates MICROSOFT CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate MICROSOFT CORP (MSFT) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow."