Tag Archives: msft

If cash is king, then the information technology sector gets the crown — and it’s a big one. Led by Microsoft (MSFT), tech companies in the S&P 500 accounted for 37% of the $1.37 trillion in cash and short-term investments held at the end of the third quarter. The tech sector had $512.3 billion in cash and equivalents. The health care sector was second with $217.3 billion, according to data compiled by FactSet Research. The report excludes the

Microsoft’s (MSFT) Surface Pro 3 tablet-notebook convertible computer is selling surprisingly well this holiday season, Pacific Crest Securities reported. Pacific Crest analyst Brendan Barnicle called the Surface Pro 3 “Santa’s surprise,” saying the device could help Microsoft post revenue upside for the December quarter. Surface Pro 3 sales provided a similar boost to Microsoft’s revenue in the September quarter, he said. Barnicle raised his estimates for Microsoft’s December quarter, its fiscal Q2. He reiterated his outperform rating on the stock with a price target of 58. Microsoft was up 1.5%, near 48.50, in afternoon trading in the stock market today. “Over the past week we spoke with more than 50 retailers across the United States. They reported surprisingly strong sales of Surface Pro 3,” Barnicle said in a research note late Monday. “It is increasingly viewed as a laptop replacement for business users and students. Inventory levels are lean, with…