Or we note the ownership life cycle as a former growth stock such as Microsoft (MSFT, news) ages toward a value stock, losing one type of investor as it picks up another.

我们注意到，过去的成长型股票，例如微软，成长为一只价值股的生命周期中，会失去一类投资者，转而由另一类投资者持有。

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Similarly but completely different, Microsoft (Nasdaq: MSFT) finds its biggest fans by pandering to the obtuse.

类似但完全不同的，微软靠迎合感觉迟钝者找到它最大的粉丝。

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White of Ticonderoga Securities could justifiably be unnerved by the example of Microsoft (MSFT) at the end of 1999 as the tech boom neared its peak.

以微软为例，1999年末科技股泡沫接近其峰值的情形和现在很像。

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Microsoft msft , meantime, looked like it was heading for its own web-wireless protocol, taking on Netscape in browsers and talking up its wireless prospects.

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