Microsoft Rewarded for Taking the Plunge
Microsoft shares touched multi-year highs as investors cheered rumors that the company would launch Office for the iPad. Several news agencies are reporting that Microsoft is likely to make such an announcement (maybe as early as this week).
Microsoft’s Office remains the preferred productivity suite at enterprises, but the growing popularity of the BYOD model has resulted in an increasing number of tablets entering the workplace. Microsoft’s Windows OS has next to no position in the tablet market so it attempted to leverage the demand for Office to force customers to use Windows-based devices.
This in fact forced users to opt for competing products from Apple (AAPL – Analyst Report) and Google (GOOG – Analyst Report) when they didn’t want to make the trade-off. With both Google and Apple offering their productivity suites for free, things started worsening for Microsoft.
— Zacks Investment Research