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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: Stockman_77079 who wrote (30225)	9/27/1999 8:07:00 PM
From: Jim Lamb	Read Replies (2) \| Respond to of 74651

Microsoft 'on track' in first quarter By CBS MarketWatch Last Update: 7:28 PM ET Sep 27, 1999 Also: Movers & Shakers SAN FRANCISCO (CBS.MW) -- Microsoft executive Jeff Raikes, who admitted Monday at the Banc of America Securities investment conference that 90 percent of his net worth is tied up in Microsoft stock (MSFT: news, msgs), joked that he "was a little pissed at Steve Ballmer," who talked down the worth of that holding last week by describing the stock as overvalued. Raikes took the opportunity at the conference to reinforce the company's vision of the "PC-plus era" and also said Microsoft is on track to meet expectations for its first quarter. The First Call profit estimate is 34 cents a share. Windows 2000, he said, remains on track for release by the end of this year. Raikes said 1999 was very good in terms of core-business and geographical growth and conceded that it won't be easy to match that performance in fiscal 2000. The company, he said, spent $3 billion on research and development in fiscal 1999 and expects to boost that figure to $3.8 billion this year.