“Goldman Sachs Group Inc. analysts cut Microsoft Corp. shares to ‘neutral,’ citing the world’s largest software company’s struggles to gain market share in mobile devices,” Matthew Campbell reports for Bloomberg.
“Microsoft was removed from the bank’s Americas Buy List, with a price target of $28 rather than $32, Goldman Sachs analysts including Sarah Friar wrote in a note to clients,” Campbell reports. “The company needs to win ‘a firmer foothold in the growing migration to mobile devices’ in order to improve investor sentiment, they wrote.”
Campbell reports, “Microsoft has struggled to match mobile offerings from rivals including Apple Inc… Redmond, Washington-based Microsoft has yet to release a tablet computer to compete with Apple’s iPad, 3 million of which were sold in the first 80 days of its release.”
Read more in the full article here.