This week has been big at Microsoft. First the Windows Surface and then Windows Phone 8. Surface was announced on Monday (June 18 2012) after the markets closed. As of June 18 2012, MSFT closed at 29.84. As of Friday June 22 2012, MSFT closed at 30.70 i.e a small 2.88 % gain. I will be watching it over the next few weeks, because June 18 event was pretty big, spurned a lot of interest - something that Microsoft has been unable to do recently.
Will the Surface be successful or not? Is it a true iPad killer? Is Windows Phone 8 going to boost Windows Phone's market share? All of these are questions for which we cannot answer. Microsoft recent track record has been mixed. Vista, Zune and Kin are failures. Windows 7, XBOX and Kinect are doing great.
There are other questions too, did Microsoft alienate PC manufacturers, or is Surface like Nexus for Android? There are a lot of questions. But current Microsoft's valuation is pretty cheap too and if Surface is to become a hit, buying Microsoft now would be like buying Apple few years ago.
This article is neither a buy recommendation or a sell recommendation. Do your homework.
Disclosure: I am long MSFT.