14 DAY TRIAL // Even though some would say that Microsoft isn’t doing very well right now, especially due to the early performance of its new products such as Windows 8 and Surface tablets, the company’s shares have recently reached a new record for the last 12 months.
Microsoft shares increased 3.6 percent, to $30.83, following news that ValueAct took control of a $2 billion (€1.5 billion) stake in the tech giant, a move that made it one of the top 20 shareholders in the Redmond-based company.
Word is that ValueAct might try to replace CEO Steve Ballmer at the helm of Microsoft, even though representatives of the company explained that they have no intention to get involved in the tech giant’s normal business.
Still, ValueAct CEO Jeffrey Ubben noted in a statement that Microsoft should focus a bit more on cloud computing and on the Office productivity suite, hinting that a non-Windows version of Office is the way to go in the next couple of years.