For Microsoft there come tough times

Stocks of the world's largest software company are approximately in the same place where were a year ago and very few people expect considerable changes after financial results of the company became known on January 12, 2012. "It is clear that investors should be patient, - the analyst of Barclays Capital Raimo Lenschow in an analytical note noted. – The positive short-term impulse is probable... but in the beginning we need to see the evidence of success of smartphones/tablets, but not just signs of hope". At just ended Consumer Electronics Show (CES) Microsoft exhibition felt taste of tough times.

On January 10 in a conversation with analysts the head of department of marketing on the product Windows Tami Reller noted recent sales reduction of the PC and emphasized that floods in Thailand considerably influence deliveries of disks. For some time it will lead to decrease in product quantity, doing results of sales difficult predicted. "I think that reduction of a situation in regulation will occupy couple of quarters, - Reller considers, speaking about the created deficit in deliveries. - It would be naive to think differently. In my opinion - it is difficult to predict sales levels on each of quarters".

Conservative forecast Reller was confirmed by the digits published by Gartner company one day later. In the Gartner overview announced decrease in the fourth quarter 2011 of sales level of the PC in the world for 1.4%. Analysts of the company foretell that deficit of disks will be most notable in the first half of 2012.

The most disturbing for Microsoft, Gartner notes, "the long low consumer demand for the PC" unlike, as a rule, rough season of festive sales to the USA, and to this day lack of an agiotage concerning the latest easy notebooks - the ultrabooks advanced by Intel corporation is. They are bad news to Microsoft whose financial success is still closely connected with sales of personal computers, despite its attempts to win market shares in the field of entertainments, servers, Internet search and phones smartphones.

On Wall Street expect that sales to the company in the second financial quarter 2012 will make $20.9 billion - 5% higher, than a year ago, and will become the largest quarter value. But net profit will be only $0.76 for an action, unlike $0.77 for 2011.

For the last six weeks of a stock of Microsoft grew. So often happens waiting for the publication of data on income, but recession is tended after these data become known. Since May, 2010 securities of the company (only then they exceeded $30) senselessly fluctuated in the price between $23 and $29 and it despite good results of sales and growth of share dividends.

Pointing to the share price in $9.7 concerning profitability, a little more than a half of the average price for the 10-year period, the most part of analysts of Wall Street designate the purchases level of an action and its final price within $30. However good news to new growth in the stock market do not come in any way.

The last hopes are laid on new phones from Microsoft which the company aggressively advanced at an exhibition of consumer electronics (CES) last week, and on Windows 8 expected at the end of this year.

On this show the chief executive officer of the company Steve Ballmer who moved from one place to another was very noticeable, advertizing phones using the newest software of Windows. Here hopes of the company are concentrated on Lumia 900 from Nokia Corporation company, but date of its start in the USA with participation of AT&T operator is not designated. Besides, Microsoft did not announce issue date of touch Windows 8 OS for mobile devices which should provide entry of the company into quickly growing market of tablets.

The company said that the test beta will appear in February, 2012 that means – to complete release at least half a year more. Some industry analysts consider that tablets with Windows 8 OS will not be available for sale prior to the beginning of 2013. By then iPad from Apple will have three-year advantage.