David Einhorn, who is a hedge manager at Greenlight Capital, has asked that Steve Ballmer step down and let someone else take over the reins.
Why so serious? Image Source: latimes
Speaking at the annual Ira Sohn Investment Research Conference, David said “Give someone else a chance. His continued presence is the biggest overhang on Microsoft's stock". One probable reason for the comment is the current value of Microsoft stock. An investor who purchased $100,000 worth of Microsoft in 2000 would now be worth only $69,000.
Microsoft has been on a slump recently, Apple recently overtook it as the dominant technology company a few weeks ago. Even IBM has grown to strength, with its market value being higher than Microsoft for the first time in 15 years. All these factors combined, could pose a problem for Steve Ballmer. Whether this statement turns into a prophecy or act as a warning is yet to be known.
Published Date: May 28, 2011 10:22 am | Updated Date: May 28, 2011 10:22 am