“Microsoft’s stock took a beating in trading today after a pair of research firms said PC shipments in the first quarter were down as much as 14% from the year before,” Gregg Keizer reports for Computerworld. “As of 4 p.m. ET, shares of Microsoft were down nearly 5% to $28.82.”
“Other technology stocks, including those of Dell, Hewlett-Packard and Intel, were also off today, down eight-tenths of a percentage point, 6.5% and 1.7%, respectively,” Keizer reports. “In its estimate of first-quarter PC shipments Wednesday, research firm IDC partly blamed Microsoft’s Windows 8 for the drop in sales, said HP’s shipments declined 24% compared to the same quarter of 2012, and said Dell’s shipments dropped 11%.”
Keizer reports, “At least three Wall Street analysts also downgraded Microsoft’s stock today… Patrick Moorhead, an industry analyst at Moor Insights & Strategy, wasn’t counting Microsoft dead and gone — ‘The game is not over with,’ he said — but neither was he overly optimistic. ‘So far, their prognosis doesn’t look good at all.'”
Read more in the full article here.
MacDailyNews Take: Crap company that deserves all the crap coming its way and then some.
[Thanks to MacDailyNews Reader “winmacguy” for the heads up.]
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