David,
In response to your long-term analysis of Microsoft, I’ll reveal my intraday Internet orientation: The stock helped dragged down both the Dow and Nasdaq today.
Re the stock’s future outlook, permit me to quote from TheStreet.com’s resident columnist on Microsoft, Jim Seymour, who posted a column midday today:
I think there’s not a whole lot of downside left in Microsoft at current price levels, in the mid-60s. We know the worst-case outcome–dismemberment–and have known it for some time. Jackson’s actions over the past few weeks have effectively drawn a downside risk line under the stock.
Of course, the stock fell another 4 points and change today, closing at 61½. Still, as Seymour says, “Microsoft is a fairly safe place to hide this summer, if you want to stay in tech stocks.” I’ll leave you with that as we head into this Memorial Day weekend.
Jamie
