Jonathan Roberts, Windows product manager director at Microsoft confirmed today that Memphis--the next major release of Windows 97--will be delayed until 1998. However, the company still plans to release a beta version of Memphis in July so that users can evaluate its features and provide valuable feedback. User feedback--and the amount of work needed to incorporate new features--will determine the actual release date of the product.

Microsoft stock slipped dramatically at the news. Contrary to an analyst's report yesterday, Microsoft will not be distributing Memphis for free