Still Bullish On Microsoft
Wall Street gave investors some big numbers to consider.
In just 48 hours, Microsoft has lost more than $80 billion in value. The big investors who got rich on Microsoft stock and the small investors who have just a few shares in their portfolio are all watching the market very closely and what they're seeing isn't pretty.
"I'm down $83,000 today," Microsoft stockholder Mary Petrie of Seattle told CBS News Correspondent Hattie Kauffman.
How could she say it so calmly? "Because I was down $145,000," she said.
Petrie says she weathers the dips and turns of the market by exercising a lot. But even at the gym, she has one eye on the market, watching prices change on cable TV as she pedals the exercise bike.
George Fouch owns 500 shares of Microsoft and is taking the 17 percent drop in value as calmly as Microsoft chairman Bill Gates, who didn't lose any sleep over it.
Fouch believes the antitrust charges at the heart of the lawsuit against Microsoft are justified but that was one of the attractions of the stock.
"Hell, I'm a businessman myself," he said. "If I can put my knee in somebody's chest, I'm gonna do it."
In Seattle, Microsoft is the monster of the economy, accounting for more than two-thirds of all the market value of all publicly traded companies in the Northwest. So, when Microsoft takes a hit, just about everyone in the city feels it.
"I would find buying an opportunity for myself," said landscaper Mike Wehrle. "I have great faith in Microsoft."
Realtor Michele Stately reported that one young couple with Microsoft options who were set to buy a $600,000 house just outside Seattle are now having second thoughts.
"They had concern about what would happen with the stock and where they would be - what price range they would qualify to purchase,"Stately said.
Petrie has no such fears. She's now building a dream house and buying more Microsoft stock, despite the wild market swings.
"I'll selectively go in and buy things," she explained.
The $83,000 loss she had reported earlier went back up to $111,000, but she ended the day down just $38,000.
Like nearly everyone else in Seattle, Petrie is still bullish on Microsoft.
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