Ahead of the Windows 8 launch, Barclays Capital cut its price target to $34 from $36. Barclays did maintain its equal weight rating on the stock though. Other analysts are keeping their rating the same for right now as they wait and see how the Windows 8 launch performs. Many are calling this the biggest product refresh in Microsoft’s history.
Yesterday, Microsoft reported earnings and saw a more than 20% drop in profit due to a weakening PC market. Tablets have really taken a big piece of the PC market and Microsoft is fighting back with its upcoming release of its Surface tablet. [Read more...]