Believe it or don't if you like. Regardless of what B.S. you read, the cost of sales trend that shows up in the 2012 inventory and the apparent control of the inventory and the cost of it, should be a significant tip-off and is part of the reason. Combine that with the future sales timing factor of the next two coming quarters.
Add to that the future prospects of upcoming platform flexibilities and other cooperatives with MSFT that should reverse the losses sooner rather than later.
You can find negatives. I can find comparable negatives in companies with much higher valuations. I can also find worse problems and higher valuations.
The next stop is either a BUY back down in the $14-$15's or to the $19-$20 mark when volume goes up again. This is an unusual week. The Nasdaq is again at a very high price due to a small supporting cast.
The cost of being short suffered by unsuccessful new risk taking short position holders in the $14-$16 range is also reflected by the deserved failure of those inaccurate low prices.