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The software company's marketing team announced it was cutting 200 jobs on Wednesday, according to the
Seattle Times. Most of these cuts will be in the Seattle area.
Wells Fargo analysts recently said of Microsoft's second-quarter earnings of 78 cents a share on revenue of $20.89 billion that, "Our thesis on Microsoft remains unchanged, as we believe the stock is only reasonably undervalued at current levels; we don't expect to see much lift until Windows 8 is released and/or Windows Phone shows some traction in the Smartphone market."
Shares of Microsoft hit a 52-week high of $30.05 on Wednesday. The stock's 52-week low of $23.65 was set on June 16.
TheStreet Ratings gives Microsoft a B+ grade and a
$34.07 price target. The stock is up 15.52% year to date.