Short-lived euphoria for Microsoft

Hmm:

Turner may not be the best known analyst on Microsoft, but he certainly is now the most bearish – and one of the boldest.

Turner contends EPS for the fiscal fourth quarter ended June, which is due next week, will come up short of Street expectations: he sees 33 cents, while the Street is at 36 cents. That puts his FY 2009 EPS estimate at $1.66, below the Street at $1.70. Moreover, his forecast for FY 2010 is for $1.64, well off the Street at $1.83.

The much lower number for the June 2010 year reflects his view that adoption of Windows 7 will be slower than the Street expects. Moreover, he thinks MSFT is going to see its market share in the operating system segment gradually eroded by simpler offerings from rivals – for instance, Google (GOOG) Chrome OS.

Duck! I see flying chairs.