How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 486.50

+0.3%

Dec 23 3:59 PM EST

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To: RTev who wrote (21509)	4/24/1999 3:43:00 PM
From: Bill Fischofer	Read Replies (1) of 74651

MSFT and Broadband Broadband is here but ultimately it is just another utility. Nice steady recession-proof monthly cash flows (required to service the mountains of debt needed for infrastructure buildout) but it all boils down to providing a new commodity called IP-tone. MSFT has never been in the utility business and I see no likelihood of them entering that business anytime soon. MSFT wants to be part of the "value-add" equation, not the commodity aspects of the internet. The focus on "portals" and "eyeballs" is simply the current scam that is building up huge market caps on the basis of ripping-off advertising companies who fear being "left behind". It has no lasting significance and indeed signs are that advertisers are already beginning to wise up to the fact that there is little evidence that their banners serve any useful purpose besides lining the pockets of those billing them for them. Think of the internet as the electronic equivalent of the interstate highway system. The real money isn't in the construction companies or in those erecting billboards but rather in the commerce that the highway enables. That is the multi-trillion dollar backbone of the 21st century global economy, and that is where MSFT's future growth will be found.

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