One of the more bewildering phenomenon in computing technology was the sheer stagnancy of Microsoft shares well over a decade. But things are now finally looking on the up.
Amid reports that Office for iPad is about to launch very soon, Microsoft shares have skyrocketed in the last 24 hours, and in the process hit the highest they have been for the past 14 years. Confirmation that the software titan has a lot left to explore? Absolutely!
According to this story over at Reuters, Redmond stock increased by 5 percentage to reach $39.90, helping increase the company’s market value by a notable $15 billion in a matter of hours.
Mark Moerdler an analyst with Bernstein Research said on the matter:
“We estimate that if 10% of the iPad install base were to subscribe to Office then this could add 15 million subscribers and generate $1.1 billion to $1.5 billion in consumer Office subscription revenue per year.”
Microsoft is expected to unveil Office for iPad on March 27, and the company has scheduled a press conference in San Francisco that will see the new CEO Satya Nadella take the stage for the first time.
However, Office for iPad is just one step towards a broader expansion of the popular productivity suite. The company is said to be developing a completely touch optimized version of Office aimed at not just Windows 8 users, but also Android and iOS devices.