The lower price bring the Xbox One down to the same price as Sony's (SNE) PlayStation 4 console, which has outsold Microsoft's console since both consoles launched in November. Microsoft will offer the Kinect sensor as a separate accessory for those who want to add it to the console later, and it maintains that the best Xbox One experience include Kinect and its voice commands and gestures.
The $399 Xbox One will go on sale on June 9, the same day as Microsoft's E3 press conference where it will discuss new video games coming to the console in the next year.
Microsoft also announced that it will no longer require Xbox Live Gold on the Xbox One for entertainment apps. Soon anyone with a console will be able to access Netflix (NFLX), Hulu Plus, HBO Go, and other apps without paying for Xbox Live.
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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 largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels, solid stock price performance and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income."