Microsoft’s stock is getting another price target cut this morning. Barclays Capital‘s Israel Hernandez is lowering his target to $28 from $30.
Hernandez’s lowered his target because of weaker than expected PC sales data coming from IDC and Gartner, Marketwatch reports.
He thinks other segments of Microsoft can make up for the loss in Windows and Office sales.
Much of this news is already baked into Microsoft’s price now, but the growth of the iPad is, “likely to remain an overhang on sentiment over the next few months.”