The application of software solutions across several industries has been increasing at a rapid rate. As a result, two of the top players in this space—Microsoft (MSFT) and Intuit (INTU)—should witness significant demand for their products and services in the near-term. But which of these two stocks is a better buy now? Let’s find out.Microsoft Corporation (NASDAQ:MSFT) and Intuit Inc. (NASDAQ:INTU) are two of the most established players in the software industry. Tech giant MSFT’s segments include Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. INTU provides financial management and compliance products and services that leverage its software solutions.
While COVID-19 cases have decreased considerably in some of the major economies, several parts of the world are still experiencing increasing numbers of cases each day. In either case, the demand for software is expected to increase in the coming months because remote lifestyles are expected to continue for the foreseeable future. According to Grand View Research, the global business software and services market is expected to grow at an 11.3% CAGR over the next seven years. Consequently, both MSFT and INTU should witness increasing demand for their services in the coming quarters.
While INTU has gained 53.1% over the past year, MSFT has returned 36.7%. In terms of their past six months’ performance, INTU is a clear winner with 27.6% returns versus MSFT’s 17.3%. But which of these two stocks is a better pick now? Let's find out.