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Microsoft dips as some analysts lower estimates

Microsoft Corp. shares declined Tuesday as at least two analysts lowered their estimates for the world's largest software company amid a potential global recession.

Microsoft shares fell 65 cents, or 2.6 percent, to $24.85 in afternoon trading. In the past year, the stock has ranged between $37.50 and $20.65.

In a client note, Jefferies & Co. analyst Katherine Egbert kept her "Buy" rating on the stock but reduced her outlook for adjusted fiscal 2009 earnings to $2.11 per share on $66.7 billion in revenue, from $2.15 per share on $67.8 billion in revenue previously.

Egbert also cut her price target to $30 from $35.

"Microsoft is not immune to the storm clouds in IT spending. We have dampened our expectations for PC/laptop unit growth, for Xbox sales and for online," she wrote.

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businessweek.com
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Nineball21123655d ago (Edited 3655d ago )

He owns quite a bit of MS stock, eh?

Edit: Hey, gotta give Bloodmask props... he approved this posting! :)

Nineball21123655d ago

At least one analyst believes their original analysis of Xbox sales might not be as high as first believed...