Activist Hedge Fund Buys $2 Billion Worth Of Microsoft (MSFT)

Activist hedge fund ValueAct Capital took a $2 billion stake in Microsoft, its CEO Jeffery Ubben announced at an investment a conference in New York, today. He explained the investment by saying, "In three to five years, which is our time horizon, we'll stop talking about PC cycles and instead talk about Microsoft as the largest cloud-computing company in the world." For his sake, let's hope so. The PC business is imploding, so Microsoft's traditionally lucrative Windows business is flattening, ...