Earlier quoted context omitted.
"Microsoft became almost irrelevant under Ballmer or was at least trending that way. Nadella’s turn around is almost miraculous " This is definitely not true. Ballmer increased revenues massively, and launched a slew of new products (XBox, MS Live, cloud etc.) and realigned the company. Have a look [1] Nadella has done nothing approaching that level of importance yet, so far, he is riding the wave that was handed to…
Arguably the stock price is a prediction of future success, not current revenue. The fact that it sagged under Ballmer and is now up under Nadella aligns with how I'm framing things. I suppose you could argue that's entirely PR, but I don't think that's the case. People thought MSFT under Ballmer was trending down, now they think it's trending up. I'd argue that's due to strategic shifts that happened once Ballmer le…
Sure, the stock price is always a prediction of future success. But it can change overnight, and when it does, it's not because reality or the "facts on the ground" changed overnight (usually) it's because perception changed. Often if not always because a catalyst made people aware of something that was building for a fair amount of time.
>strategic shifts that happened once Ballmer left.
I'm not saying this is wrong, but I don't think it's appropriate to treat the stock price as evidence of it.