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trading following the earnings report on Thursday. Wholesale NBA Jerseys
"Microsoft to me is no longer a growth stock, but it is a very attractive value stock. They continue to generate tremendous free cash flow. Their balance sheet is really unmatched," said Channing Smith, co-manager of the Capital Advisors Growth Fund.
"What you will begin to see is a shift away from growth investors. You are seeing that transition where Microsoft is in no man's land Wholesale NBA Jerseys , but I think they will become increasingly more attractive to value investors."
Microsoft has sold a record-breaking 350 million licenses for its Windows 7 operating system since launching it 18 months ago, but demand appears to be waning in an uncertain economy.
PC sales -- the engine guiding Microsoft's financial success -- fell 1 percent in the first three months of the year, according to one research firm.
CFO Peter Klein told Reuters in a phone interview the company expects corporate spending on PCs to outpace consumer PC sales through the next 12 months. He acknowledged that sales of low-end netbooks were suffering particularly, partly because of the success of tablets and other mobile devices.
"The concern is PC markets are being disrupted. There's some validity," said BGC Financial analyst Colin Gillis. "But it's also overblown when you factor in that Windows 7 is the fastest-selling OS in history."
CAN DO WRONG?
The company co-founded by billionaire Bill Gates has exceeded Wall Street's expectations in seven straight quarters -- but its stock remains at 2001 levels. Investors fear that new gadgets, led by the iPad Wholesale NBA Jerseys , are the thin end of the wedge that will one day separate Microsoft from its core customers.
Microsoft shares are down 14 percent over the past 12 months, compared with a 16 percent gain in the Nasdaq.
Longer term, some see the new devices as unleashing a genie that Microsoft may never be able to put back in the bottle.
Microsoft notched a 31 percent increase in fiscal third-quarter net profit, reporting $5.2 billion, or 61 cents per share, compared with $4 billion, or 45 cents per share, in the year-ago quarter. Five cents per share of that profit was attributed to a one-time tax benefit.
Excluding the tax benefit, profit met the 56 cents expected by Wall Street analysts Wholesale NBA Jerseys favourite blog MOSCOW, according to Thomson Reuters I/B/E/S.
Despite the dip in the Windows unit, overall sales rose 13 percent to $16.4 billion, ahead of the $16.2 billion expected by analysts, helped by sales of Office and its Xbox game system and Kinect add-on.
Sales at its Windows unit fell 4 percent to $4.4 billion, but that was offset by a 21 percent increase at the Office unit to $5.2 billion, as people continued to buy copies of the new Office 2010, released last year.
The entertainment and devices unit -- which makes the Xbox and phone software -- posted a 60 percent increase in sales to $1.9 billion, mostly due to the success of the Kinect motion-sensor, launched last November.
The online services unit, which runs the B