Rick Sherlund
Rick Sherlund
address conclude direction gotta microsoft step taking today understand
I see Microsoft today saying, 'We understand that. Here's our first step in that direction, and how we address it.' That's all I think you can conclude today, is they're taking their first steps. They've gotta do it.
appear clear disrupted shipments supply xbox
It is clear that something disrupted the supply of Xbox 360 shipments in the quarter. There does not appear to be any end-of-year catch-up in shipments.
actions civil concern gives leverage
We have over 100 civil actions already filed. There's concern that this gives them some leverage going forward.
allow bail climb company dug fast hole hoped january march strong themselves track
We hoped that March would be back on track and strong enough to bail out the quarter, but it doesn't look like it got there fast enough to really allow this company to climb out of the hole they dug themselves in for January and February.
bad believe news software
We do not believe all the bad news is out yet in the software sector.
appears business currently line management plans spoken tracking
We have spoken with management and there are currently no plans for an pre-announcement, as business appears to be tracking in line with expectations,
begin believe benefit cycles earnings increase late momentum office revenue stock upgrade windows
We believe there will be an increase in revenue and earnings momentum and a corresponding benefit to the stock as Windows Vista and Office 12 upgrade cycles begin late in the year.
despite quarter sales turned xbox
The quarter was pretty much in line, but despite all the hoopla the Xbox sales turned out to be better than we thought.
appear due earlier estimate evidence fast growing growth likely march november occurred offset pc quarter reducing revenue sluggish unit weakness
We are reducing our March quarter revenue estimate due to growing evidence that PC unit growth did not likely come up to our expectations. PC growth was very sluggish from November through February, and while it reaccelerated in March, it does not appear to have occurred fast enough to offset the weakness earlier in the quarter.
clear constraint supply
It's not clear what the constraint on supply is.
cloud department horizon justice
The big cloud on the horizon has been the Department of Justice lawsuit,
account consumer corporate demand estimate likely line pc percent relatively revision sales total
Consumer PC sales account for only about 10 percent of Microsoft's total revenues, so with corporate demand likely in line with expectations, our estimate revision is only relatively moderate,
advertising estimates growth last pc potential reflect slower sluggish week
We trimmed estimates last week to reflect even more sluggish PC demand, the potential for slower server growth and slower on-line advertising for MSN,
build stock year
As the year progresses, the stock will build its multiple.