Microsoft Pri0

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November 13, 2008 10:06 AM

Updated: Microsoft hits intra-day low not seen since 1998 as Intel cuts revenue forecast

Posted by Benjamin J. Romano

Microsoft shares were trading down $1.50, about 7.2 percent, to $18.80 at 1:06 p.m. Eastern Time today, an intra-day low not seen since Jan. 30, 1998, when the company's stock hit $18.45 before closing at $18.65.

(Update, 1 p.m.: Can you say volatility? Microsoft climbed into positive territory late in the day. At 3:57 p.m. Eastern, the stock was up 76 cents, 3.7 percent, to $21.04.

Also, see this post to read why one financial analyst expects PC sales growth to slow to a trickle in the next 7 and a half months, and the impact that could have on Microsoft revenue.)

Today, the Nasdaq is down about 3.9 percent. (Update: By late afternoon, the index was up 6.5 percent.) Tech shares are reacting after chip maker Intel cut its revenue forecast. From Reuters:

"[Intel] expects fourth-quarter revenue of $9 billion, plus or minus $300 million.

"That was much worse than Intel's October forecast of $10.1 billion to $10.9 billion, and far short of the average analyst estimate of $10.3 billion according to Reuters Estimates."

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Comments

Hi, this is Benjamin Romano of The Times. Gregwe is right. The stock has split nine times in its history. It has split three times since it last... Posted on November 14, 2008 at 10:10 AM by Benjamin J. Romano. Jump to comment

how many times has the stock split since 1998? if it was even once, the two number are not even comparable. Posted on November 13, 2008 at 2:05 PM by uw dude. Jump to comment

The current price comparison already takes ALL of the splits into account. It's split 9 times since it's IPO and the price has (split... Posted on November 13, 2008 at 2:30 PM by gregwe. Jump to comment

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