We do not believe all the bad news is out yet in the software sector.
More Quotes from Rick Sherlund:
It is clear that something disrupted the supply of Xbox 360 shipments in the quarter. There does not appear to be any end-of-year catch-up in shipments.Rick Sherlund
Oracle has an August quarter, so we are more compelled to cut estimates now. Siebel is September, so we could wait, but the numbers just look too optimistic. Given cost reductions, the EPS cut for Oracle is small, but the growth rates for Siebel are much faster, so EPS reductions more significant.
Rick Sherlund
There is an increasing risk that Microsoft might atrophy on the PC platform as IBM did on the mainframe platform, while robust growth shifts to hand-held and wireless devices.
Rick Sherlund
We hoped that March would be back on track and strong enough to bail out the quarter, but it doesn't look like it got there fast enough to really allow this company to climb out of the hole they dug themselves in for January and February.
Rick Sherlund
I think the Street's trying to figure out what is the long-term growth rate here,
Rick Sherlund
Microsoft's management has not changed its posture on the quarter, but we believe recent data suggests that Street estimates may need to come down,
Rick Sherlund
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