NEW YORK (TheStreet) -- Microsoft Corp. (MSFT) announced on Monday that it has increased the amount of free cloud storage space it offers users to 15GB from 7GB, in order keep up with rival Google (GOOG) in the cloud storage market competition.
"We believe providing 15GB for free right out of the gate, with no hoops to jump through, will make it much easier for people to have their documents, videos, and photos available in one place," Microsoft OneDrive Group Program Manager Omar Shahine said.
Microsoft is also looking to get more people to sign up for its $9.99 per month Office 365 program, by offering subscribers 1TB of One Drive storage, an increase from 20GB.
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Shares of Microsoft are up 0.48% to $41.88.
Separately, 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, increase in stock price during the past year and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income."