Thursday, October 21, 2004
WSJ.com - Ahead of the Tape: Microsoft's Downshift
WSJ.com - Ahead of the Tape: Microsoft's Downshift: "The idea that Microsoft won't grow like it used to appears to have filtered to its shareholder base. At $28.70, its shares are at a level they first breached in mid-1998. Over the intervening six years, Microsoft's annual revenues have more than doubled and the amount of cash on its balance sheet has surged. Take it with a grain of salt, but it's gotten to the point where despite modest growth expectations, analysts can safely argue that Microsoft shares are inexpensive."