Microsoft Shares Right on Schedule

Microsoft (MSFT Quote) may be guarded about its near-term prospects, but that doesn't mean Wall Street has to be.

In its fiscal first-quarter report Thursday, the software behemoth cautioned analysts that second-quarter results will likely come in below expectations. And despite a massive stock-buyback program -- which theoretically should boost earnings per share -- the company declined to ratchet up its full-year profit prediction.

But in reports issued following Microsoft's report, Wall Street analysts were, on the whole, notably more bullish than the company. The consensus view: With a slew of new products launching over the next year, Microsoft's share price -- and results -- are poised for growth. ...