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Microsoft expected to announce Office for iPad

Hot Stock Minute

Microsoft (MSFT) CEO Satya Nadella is expected to announce a version of the company’s Office suite for Apple’s iPad. The new version would be a first for Microsoft, which up until this point, has only made a tablet version of Office for its Windows operating system. Nadella is expected to make the announcement at an event in San Francisco today.

Office includes Microsoft’s popular programs Word, Excel and Powerpoint. Because Office had only been available on Windows tablets, users have turned to Apple’s (AAPL) iWork suite, as well as start-ups like Evernote.

In the associated video, Yahoo Finance Editor-in-Chief Aaron Task spoke with Lauren Lyster about the move by Microsoft. “It’s a big deal,” Task said. “It’s the first clear sign from within Microsoft that they realize it’s not a Windows world anymore and that they need to change.” Task said one reason why Steve Ballmer is no longer at Microsoft is because the former chief executive was wedded to the old world where Microsoft and Windows were dominant players. Nadella, Task said, realizes the company has to change gears and have their programs run anywhere.

“This is potentially a billion-dollar market opportunity for them to go on the iPad,” Task said. “So, good for [Nadella] to do it – to go on the iPad.”