Microsoft Corp. (MSFT) shares are trading lower on the session after the tech giant was cut to “Neutral” from “Buy” at Goldman Sachs (GS), which cited the company’s struggle to gain market share in mobile devices.
Goldman issued the following three-point “call to action list,” to get MSFT shares reach their true potential:
1) a material increase to its dividend.
2) a “coherent consumer strategy”.
3) the leadership position in “cloud computers”.
“In our view the intrinsic value of the shares cannot be realized if the status quo remains intact,” Goldman said in its stock-investment rating note. Goldman also said it removed M’soft from it’s America’s Buy list.
Shares of M’soft fell 52 cents, or 2.17% — the lowest intraday price since Sept. 10 — at last check to $23.85.