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Microsoft (MSFT) Shuts Down Internet Explorer After 27 Years

Microsoft MSFT officially ended support for its web browser, Internet Explorer (IE). Released in 1995, the search browser came as an add-on for Windows 95. It was one of the most famous search engines, and by 1996, it was Javascript-enabled.

New feature development for Internet Explorer was discontinued in 2016 in favor of the new browser Microsoft Edge, which comes with in-built Internet Explorer mode, so that users can access the legacy IE-based websites and applications.

To help users with the transition, Internet Explorer will progressively redirect users to the new Edge browser through the Reload in IE mode button on the toolbar to open the webpage in the new browser. This applies to Windows 10 users and includes every edition of the OS – Home, Pro, Enterprise, Education, and IoT.

Microsoft Corporation Price and Consensus

Microsoft Corporation Price and Consensus
Microsoft Corporation Price and Consensus

Microsoft Corporation price-consensus-chart | Microsoft Corporation Quote

Internet Explorer Fails in the Overall Browser Market

The launch of Alphabet’s GOOGL Google Chrome in 2008 marked the official beginning of the end for Internet Explorer as the shiny new cross-platform browser grew to dominate the market.

The usage of Internet Explorer has plummeted in recent years. Internet Explorer has less than 0.5% of the overall browser market share, per StatCounter report. Currently, Google’s Chrome is the leading web browser with 65% share of the market, followed by Apple’s AAPL Safari at 19%. Microsoft Edge currently has about 4% share, followed by Mozilla’s Firefox.

A month ago, Apple announced that it was ending the production of the iPhone's predecessor–iPod. Two decades after the device's debut in 2001, iPod Touch is the only model available today.

Microsoft has labeled Internet Explorer as a compatibility solution rather than a browser that businesses should actively be using. Microsoft 365 ended support for Internet Explorer on Aug 17, 2021, and Microsoft Teams ended support for IE on Nov 30, 2020.

Nikkei reported this week that some government agencies and financial institutions in Japan have been slow to respond to the IE retirement. The website for Japan Pension Service must still be viewed in Edge’s IE mode, for example.

While Microsoft has moved to its Chromium-powered Edge as the default browser on Windows 11, the MSHTML engine that powers Internet Explorer is still part of Windows 11. It exists purely for IE mode in Microsoft Edge, and Microsoft will support IE mode in Edge through at least 2029.

Microsoft’s shares are down 25.1% in the year-to-date period compared with the Zacks Computer - Software industry’s decline of 29% and the Computer and Technology sector’s fall of 31.9%.

On Jun 2, Microsoft announced that it had lowered its fiscal fourth-quarter guidance. It expects to report between $51.94 billion and $52.74 billion in revenues for the quarter. The company had previously forecast fourth-quarter revenues in the range of $52.4 billion to $53.2 billion. Microsoft also slightly cut its quarterly earnings forecast, saying it now expects to report adjusted earnings per share in the range of $2.24 to $2.32. Previously, the company had projected adjusted EPS between $2.28 and $2.35.

Nonetheless, Azure’s increased availability in more than 60 announced regions worldwide is anticipated to have bolstered its cloud business and strengthened its competitive position against Amazon’s AMZN Amazon Web Services (AWS) and Google Cloud.

In the last-reported quarter, Amazon’s AWS revenues (16% of sales) rose 37% year over year to $18.4 billion. The expansion of its AWS services portfolio is helping Amazon maintain its dominance in the cloud domain by gaining more customers.

Microsoft reported a 46% year-over-year (up 49% at constant currency) increase in Azure and other cloud services’ revenues in third-quarter fiscal 2022. The upside was driven by robust growth in the consumption-based business.

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