Microsoft's Stock Price Goes Down 11.4% On A Single Day, Market Responds To Surface RT Worries

Microsoft’s stock price fell more than 11 percent on Friday, their biggest plunge in more than 11 years. Microsoft reported their quarterly financial results yesterday of $19.90 billion in revenue and a net profit of $4.97 billion. But the stock value down is due to whopping $900 million write-off of Microsoft’s Surface RT inventory. Microsoft recently reduced $150 off the price of the Surface RT tablet to further increase the sales.

Steve Ballmer said the following statement on Surface and Windows based tablets,

“We are working hard to deliver compelling new devices and high value experiences from Microsoft and our partners in the coming months, including new Windows 8.1 tablets and PCs,”