Microsoft investors 'hang on to dream' |
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Microsoft investors 'hang on to dream'
Karen Robbins listens to Steve Ballmer.
Microsoft CEO Steve Ballmer is an optimistic guy, particularly about the company he runs. During the Q&A session at the company's annual meeting today, one shareholder tried to hold him accountable for the positive outlook he's given in the past.
"I love Microsoft. I believe in the company. It is my only individual stock still left in my portfolio," said investor Karen Robbins of Seattle. "I'm still hanging on to Microsoft and the dream. ... I remember I sat in this very same room, several years ago, and I believe it was Mr. Steve Ballmer who said, 'The best is yet to come.' So, Mr. Ballmer, what year do you predict the best is yet to come?"
As the audience applauded, a smiling Ballmer replied, "For Microsoft, every year is better than the last one."
That was about as contentious as it got during Microsoft's annual meeting of shareholders this morning in Bellevue. Afterward, some investors expressed disappointment in the company's share price, which was stagnant long before the recent economic turmoil. But despite the stock's performance, they said they're still optimistic about Microsoft's long-term prospects.
"It's sort of been flat for a while, but it's a large company," said Ann Gruber of Post Falls, Idaho. "We feel very positive about Microsoft."
Jack Nash of Bellevue, who has owned Microsoft shares since the early 1990s, offered a similar take. He said he is enthusiastic about Microsoft but hoping to see the company come up with new technologies that will improve its financial position.
"Hopefully the economic situation will improve and they'll come out with something that will liven up the stock," he said.
For the record, it hasn't happened yet. Microsoft shares fell with the broader market today, closing at $18.29, down more than 6.7 percent on the day.
Earlier: Ballmer: No Yahoo acquisition, but Microsoft still open to search deal
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