"Clearly it's going to have an impact on their earnings," said Erik Gustafson, a senior portfolio manager at Stein Roe, which owns Microsoft shares. But Gustafson said he's more impressed with Microsoft's dominance in the desktop operating system market, innovations, cash position and the fact that it is "run by one of the smartest guys in the world. The option calculus doesn't really impact our decision there," he added.
There's a credible opinion. Obvious intangibles evaluated by an unbiased portfolio manager. You can almost see the puppet strings moving...