And I would sell. Now full disclosure time. I own Microsoft stock, stock I received while employed there. Microsoft came out and beat their estimates. More importantly, they gave good guidance as opposed to Apple who came out with good earnings and less than optimistic outlooks.
While I'm going to hold on to Microsoft (I rarely make moves in my long term portfolio) my recommendation is to sell. You see, I have VERY little faith in this company long term. They are losing talent left and right. Most of the top developers I worked with have already left the company or are planning to leave. Most of them are heading over to Google.
Companies like Microsoft are very dependent on their talent and the talent just isn't going to Microsoft anymore. Those that are still behind are quickly seeing that there are better opportunities elsewhere. I still have to make my post about why I left Microsoft. I'll follow up with that one shortly.