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Methinks you both might be missing the economic meaning of "lost decade". It essentially refers to a gradual decline. There can be no doubt that, from its shares, it _has_ been a lost decade. Even breaking even would be considered a decline in comparison to other similar investment options. Also, talking about what Microsoft might do in the future, doesn't magically erase the financial and business criticism of the past. If anything, past performance is a better indicator than "if XYZ can turn around, so can we". Momentum is huge. As for Microsoft having "positions in all the right places". They have an amazingly strong position in two massive markets. Again, lost decade refers to growth and decline, and unfortunately for Microsoft, neither of these markets is seeing nearly as much growth as other markets. No one is saying that Microsoft isn't making a fortune on desktop and enterprise sales, they are saying that they are failing to capture key markets, such as mobile and tablets. In some markets, like internet or entertainment, their market share isn't horrible, but it's costing them a fortune. In short, Microsoft's stock price is horrible. If Microsoft thinks the stock is undervalued, they should be buying it back. They are insignificant in a number of important markets, and in those markets where they are a player (but not a leader), they tend to be losing massive amounts of money. |