“Jeffrey Ubben of ValueAct made the comments at the Value Investing Conference in New York. Ubben’s firm announced a $2 billion position in Microsoft earlier this year and is thought to be a driving force behind CEO Steve Ballmer’s decision to retire as well as Microsoft’s new stock buyback and dividend increase announced earlier Tuesday,” Farrell reports. “Ubben said he likes that Microsoft charges a lot of money, makes a lot of money, and has enterprise contracts that will last for years. He noted that Microsoft is ‘in the plumbing’ of big corporations.”
Farrell reports, “By contrast, companies like Apple and Samsung, which cater more to average consumers, have to keep churning out new products every few months even if changes are incremental. Ubben refused to discuss his stake in Microsoft in greater detail, saying his hedge fund and Microsoft ‘are in the middle of stuff.’ ValueAct should play in even more active role in deciding what’s next for the company. Microsoft offered a board seat to ValueAct president Mason Morfit in late August.”
Read more in the full article here.
MacDailyNews Take: iCal’ed.
[Thanks to MacDailyNews Readers "Fred Mertz" and "David E." for the heads up.]
Apple just drove a wooden stake into Microsoft’s heart – September 16, 2013
Apple’s iPhone 5s’ biggest loser: Microsoft – September 12, 2013
Apple kicks Microsoft when it’s down with free iWork for iOS apps – September 10, 2013
iPhone 5s: Once again Apple leaps ahead with Touch ID fingerprint recognition; a big enterprise win for Apple – September 10, 2013