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Microsoft seen lowering outlook as economy weighs
>> From iht.com:
[QUOTE]
Microsoft Corp is expected to cut its forecasts for the remainder of the year as customers curtail software spending amid the economic downturn.
Microsoft's shares have plunged to an eight-year low and its rivals such as SAP AG have warned of tighter demand.
"Given the current macro-economic situation, I think there is an expectation that it will use this opportunity to bring down guidance a little bit," said Pat Becker Jr., portfolio manager at Becker Capital Management. Microsoft is the largest holding of the $62 million Becker Value Equity Fund.
The December quarter is usually known for being a busy period for Microsoft's entertainment and devices division as consumers snap up Xbox 360 consoles and video game titles during the holiday shopping season.
The company cut Xbox 360 prices in September, lowering the price of its entry-level console to below $200 -- a key mass-market price level that Microsoft has said historically accounted for more than 75 percent of all machine sales.
"It looks like we are going to have a really difficult holiday season with the U.S. consumer pulling back a lot. So the Xbox business might be weak going forward," said Morningstar analyst Toan Tran.
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Full Story: iht.com
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