With the talk of Microsoft launching Office for iPad doing the rounds, the company's shares went up by 5 percent to stand at $39.90 Tuesday, its highest since 2000.
According to Reuters, CEO Satya Nadella is expected to unveil the iPad app on March 27 at a press event. With these rumors in addition to Microsoft's recent launch of its note taking application for iPhone, company shares went up by 5 percent to touch $39.9. The shares last breached $40 in 2000, according to Reuters.
The Telegraph reported that the iPad has sold 200 million units, which means that Microsoft was losing about $2.5 billion in revenue every year by not tapping into it.
Microsoft has been prepared for several months with the iPhone and iPad versions of Office, but internal differences resulted in postponement of release date. Google has also made inroads into Microsoft's revenue with its Drive applications, which offer spreadsheet and word-processing tools.
USA Today said it was not clear at this stage how Apple users would use Office, but it pointed to the possibility of Office tools being offered as subscription to Office 365. It also said Microsoft has been aggressive in cross-platform promotion.
"This week, Microsoft made its note taking software, OneNote, available on additional Apple devices for free. Unlike other technology companies that try to lock consumers into a platform, Microsoft's approach allows it to make money on other tech firms' platforms," USA Today reported.
The press event on March 27 will also include Nadella outlining his vision for Microsoft.
"The company said in an invitation to reporters that Nadella will discuss news related to the intersection of cloud and mobile," the Telegraph reported. Reuters added that the event would be Nadella's first major appearance since his appointment as CEO on February 4. It further reported that Tuesday's stock value was up about 10 since his appointment.
