Early Returns – Microsoft

Microsoft reports earnings on April 22nd. Two weeks out, how should you be positioned?

Top ranked ISI software analyst Heather Bellini is bullish. Here’s why:

- IT spending is picking up

- Expects 20% growth in PC shipments IN FY10

- Rivals such as Oracle, VMWARE posted higher license revene

We’ve got a $38 price target on Microsoft stock, says Bellini on Fast Money and I think it trades higher as investors come to realize we’re nearing the enterprise refresh cycle.

The fact that it’s traded sideways is also a positive, adds Jon Najarian. Stocks rest before they go higher.”

I also think Microsoft goes higher, says Tim Seymour.

	Price		Change	%Change
MSFT		---

I agree with the fundamental long-term story but I need to see some momentum first before I go long, counters Joe Terranova.

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Trader disclosure: On Apr 8, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Jon Najarian Owns (AAPL) Call Spreads; Jon Najarian Owns (AMZN) Call Spreads; Jon Najarian Owns (AMR) Call Spreads; Jon Najarian Owns (BAC) Preferred; Jon Najarian Owns (C) Preferred; Jon Najarian Owns (F), Is Short (F) Calls; Jon Najarian Owns (GS), Is Short (GS) Calls; Jon Najarian Owns (HPQ), Is Short (HPQ) Calls; Jon Najarian Owns (IGT) Calls; Jon Najarian Owns (JPM) Preferred; Jon Najarian Owns (JCG), Is Short (JCG) Calls; Jon Najarian Owns (LVS), Is Short (LVS) Calls; Jon Najarian Owns (MCD), Is Short (MCD) Calls; Jon Najarian Owns (MS) Preferred; Jon Najarian Owns (RIMM), Is Short (RIMM) Calls; Jon Najarian Owns (WMT) Calls, Is Short (WMT); Jon Najarian Owns (WFC) Preferred; Jon Najarian Owns (WYNN), Is Short (WYNN) Calls; Jon Najarian Owns (YHOO) Call Spreads; Jon Najarian Owns (AMR) Call Spreads; Jon Najarian Owns (HOTT); Jon Najarian Owns (CSCO), Is Short (CSCO) Calls; Terranova Owns (AXP), (EOG), (SWN), (FCX), (GLD), (POT), (TER), (YHOO); Terranova Is Short (XLY), (LCC), (FDX); Grasso Owns (ASTM), Grasso Owns (ABK),Grasso Owns (AAPL), Grasso Owns (BAC), Grasso Owns (BGP), Grasso Owns (C), Grasso Owns (CVGI), Grasso Owns (COST), Grasso Owns (JPM), Grasso Owns (NEM), Grasso Owns (PRST), Grasso Owns (WMT), Grasso Owns (PFE), Grasso Owns (BA). Grasso Owns (T); Edwards Owns (TM); Edwards Owns (UUP); Stutland Owns (MSFT); Stutland Equities Is A Market Maker In VIX And SPX Options; Kelly Owns (FXE) Puts; Cortes Owns (IAI), (MS), (GS); Cortes Is Short S&P Futures; Seymour Owns (AAPL),(F), (INTC)

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