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CNET News.com: Does Microsoft fear rising tech stocks?

Sep 29, 1999, 17:03 (9 Talkback[s])

"What made Microsoft president Steve Ballmer take a shot last week at the 'absurd' prices of technology stocks, including his own? ...there are good, hard reasons why Microsoft is dismayed by the booming technology stock rally, and Microsoft hasn't done anything to distance itself from the comment since Ballmer made it."

"...the boom has made it harder for Microsoft to match its upstart competitors in deal-making and is causing the company to lose some of its best talent to 'dot.coms.' "

"Microsoft has lost a steady stream of very bright managers to the lure of the Internet, some of whom have already made it big with their own start-ups, including Peter Neupert of Drugstore.com, Rob Glaser of RealNetworks, and Naveen Jain of Infospace."

"Yahoo, America Online, and Excite AtHome, its three most important Internet competitors, made multibillion-dollar acquisitions this year that were larger than any Microsoft has ever taken on. AOL acquired Microsoft archrival Netscape for $9 billion. Yahoo bought broadcast.com and Geocities.com for $8.7 billion, and AtHome won Excite in a $7.2 billion deal--all paid for with stock."

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