By Lou Basenese:
Talk about whiffing! Computing giant Microsoft (MSFT) reported results last Thursday, and it missed guidance for every single division.
Making matters worse, the company announced a $900-million write-down on the value of unsold Surface tablets because, well … they weren’t selling. Not surprisingly, investors hightailed it to the exits on the heels of such a “dismal” report, as Reuters described it.
At one point, shares dropped 12%, marking the biggest single-day sell-off for the stock since the dot-com bubble burst. We’re talking about $30 billion in market value – equal to all of Yahoo! (YHOO) – being destroyed in the blink of an eye.
Given all the carnage, it’s natural to wonder if investors overreacted – and, more importantly, if Microsoft is suddenly a timely contrarian investment. Not a chance! And here’s why, with a little help from some charts …
PC Sales: Down for the
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