Microsoft reports solid earnings quarter after quarter—and yesterday beat earnings estimates by more than $1 billion. Yet Microsoft's stock price is stuck at 2001 levels. Apple earnings results are good, but nowhere near what Microsoft delivers. Yet Apple's stock just climbs and climbs—this morning to more than $185 a share, up from about 77 bucks 52 weeks earlier. ...

This week, a number of tech journalists gave glowing reviews of Leopard. They received the software on Mac Book Pro laptops provided by Apple. Nowhere have I seen anyone gripe about conflicts of interest. But when Microsoft's PR agency sent bloggers preloaded Vista notebooks ahead of the operating system's launch, there were ridiculous accusations of attempted bribery. The accusations made it difficult for those receiving the Vista units to say anything positive about the operating system. ...

Today will be no exception. The blogosphere will praise Leopard as the next best thing ever and use it as more proof why Vista sucks (It doesn't). Meanwhile, there will be little good said about Microsoft's colossal 2008 fiscal first quarter results. Those people acknowledging the earnings results will blame Microsoft for trying to kill Linux and babies in Africa as reasons for its success. The perception: When Microsoft competes, it cheats.