CoreMagazine is reporting that investment firm Salomon Barney Smith has downgraded Microsoft's stock from outperform to neutral status.

Reading between the lines here is difficult. Apparently, the fact that MS has raised expectations for Xbox-related revenue over the next three quarters is casting some doubt on the original revenue estimates for next year:

We are comfortable with the company's ability to achieve current estimates for the fourth quarter. We are more concerned about March and June quarter estimates given management's expectation for a sharp increase in Xbox related revenue from roughly $350 million in the fourth quarter to $600 million in the first quarter to $800 million in second quarter.

This is the first item we've seen on the web about the downgrade, although there are sure to be others.