Microsoft delivered another quarter that exceeded expectations on virtually every possible metric.
Microsoft is the market leader in the cloud, a decade long growth tailwind.
Cloud valuation metrics differ from traditional data center valuations due to the disconnect of upfront cost versus annuity revenues.
Microsoft is not expensive relative to the market and is inexpensive relative to other cloud investments.
Microsoft (MSFT) reported another stellar quarter and fiscal year ended June 2018. They beat expectations for virtually every important metric and more importantly strengthened their market leadership in the cloud, internet of things