No. 1 Investor Buys RIM, News Corp., Cisco
The Yacktman Fund boosted its Microsoft (MSFT) stake by 1.7 million shares in the second quarter, bringing its total holdings to 10.6 million shares, or 5.1% of the fund, worth $275 million.
Microsoft, which has a market value of $228 billion, has seen its shares decline 1.1% this year, but they are up 8% over the past 12 months. Long-term, its shares have a lackluster five-year annualized return of 4.4%.Microsoft, the developer of the Windows PC operating system, the Office suite of productivity software, and enterprise server products such as Windows Server and SQL Server, is now transitioning into cloud-computing products, which is a move to Web-based applications, which means it's entering new markets. Among its recent efforts, the company has partnered with phone maker Nokia (NOK), and that is expected to drive large market-share gains for the Windows Phone platform and create the next $1 billion-plus annual revenue stream for the company, Morningstar says.
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