Regular readers know that I’m not exactly a huge fan of Microsoft’s software porfolio circa 2011 and beyond. (For my full scathing analysis, click here).
But it is looking like many investors now agree with my pessimistic take – in fact, by looking at the MSFT chart, there may be nobody left to sell – at least in the short term.
Our friend Brian Hunt pointed out yesterday in his always-excellent Market Notes column that Microsoft is cheap, and back near a hard floor of buying support:
One of value guru Dan Ferris’ favorite cheap stocks, Microsoft, enjoyed a rally off its floor in the $24 area to $28.50. But the market selloff of the past few weeks has taken Microsoft and other “big cheap tech” players back near the levels of seven months ago… where big money institutions find value, buy shares, and support prices.
Source: DailyWealth
So while I’m not going long MSFT anytime soon, I also don’t think it’s a great idea to go short near these levels of strong support.
More Tech Musings: A Casual Stroll Down Tech Valuation Lane – Facebook, Apple, Google, and More
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