Office for iPad: What Wall Street Thinks
Updated from 11:44 a.m. to include tweet from Satya Nadella and updated share price.
NEW YORK (TheStreet) -- Yesterday, in a sign of the times in the technology world, Microsoft (MSFT - Get Report) CEO Satya Nadella made a historic announcement, bringing Microsoft Office to the Apple (AAPL - Get Report) iPad. Early reviews from Wall Street are in, and it's overwhelmingly seen as a positive for both companies.
At an event in San Francisco, where Nadella discussed the intersection of cloud and mobile, the new CEO announced Office would be coming to Apple's popular tablet, making it the first time Office has been on a tablet other than the Microsoft Surface. Already, it seems as if consumers are taking to the new apps from Microsoft. Though consumers will need an Office365 subscription to create documents, customers can read and present documents for free, and customers are taking to it in droves.
In a tweet, Nadella noted that it was a "productive Friday for iPad owners," with Word, Excel, PowerPoint and Microsoft OneNote the top 4 free apps.looks like it's a productive Friday for #iPad owners! pic.twitter.com/hjoDxxbp7c - Satya Nadella (@satyanadella) March 28, 2014 With an Office365 subscription, which costs $9.99 per month or $99.99 per year (students can pay $80 a year), users can create as well. This is just the beginning of Office moving to other platforms, general manager of Microsoft Office Julie White said during the presentation. earlier this year.
Welcome to the #iPad and @AppStore! @satyanadella and Office for iPad Tim Cook (@tim_cook) March 27, 2014Nadella responded, thanking Cook for the opportunity to bring Microsoft's most enterprise software suite to the App Store.
Thanks @tim_cook, excited to bring the magic of @Office to iPad customers #cloud4mobile Satya Nadella (@satyanadella) March 27, 2014In addition to announcing Office for the iPad, Nadella brought forth the vision for Microsoft, with the Enterprise Mobility Suite, which allows for identity management, access and device management across all devices and applications. Nadella noted this was like the Facebook for business. Included in the suite are Windows Intune, which lets users manage their mobile devices, and Azure Active Directory Premium and Azure AD Rights Management Services. Analysts by and large were positive on the announcement, as well as Nadella's new direction for Microsoft, focusing on bringing cloud applications to any device and operating system, including iOS and potentially, Google's (GOOG) Android. Here's what analysts had to say following the announcement.