Microsoft shares reach highest point since 2000 on Office for iPad reports

“Microsoft Corp. shares reached their highest point in nearly 14 years Tuesday, closing up 3.9% at $39.55,” Rex Crum reports for MarketWatch.

“That was the steepest level since July 2000,” Crum reports. “The jump followed reports that Microsoft will soon make a version of its Office software suite available for use on Apple Inc. iPads.”

Full article here.

“Reuters reported late on Monday that new Microsoft Chief Executive Satya Nadella would unveil the iPad app at an event on March 27,” Soham Chatterjee reports for Reuters. “Microsoft shares rose as much as 5 percent to $39.90 on Tuesday, adding $15 billion to the company’s market value. At that price, the stock was up about 10 percent since the announcement of Nadella’s appointment on February 4. The shares last touched $40 in July 2000.”

Chatterjee reports, “Microsoft has had iPad and iPhone versions of Office primed for several months now, sources told Reuters, but the company has dallied on their release due to internal divisions, among other things.”

MacDailyNews Take: You know, like having a buffoon for a CEO.

“Analysts said the lack of an Office version for the iPad may have robbed Microsoft of billions of dollars in revenue,” Chatterjee reports. “Tired of waiting for Office to be optimized for their touchscreen devices, a growing contingent of younger companies are turning to cheaper touch-friendly apps that can perform word processing and other tasks in the cloud… Last year, Apple offered free updates for life on its iWork business software, which includes rival applications to Microsoft’s Excel, Word and PowerPoint, for MacBooks, Mac computers and iPad.”

Read more in the full article here.

MacDailyNews Take: Microsoft stock hits 14-year high, thanks to Apple. (smirk)

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