Microsoft's Strategic AI Partnership and Robust Financials Justify Buy RatingWe continue to see Microsoft expanding its enterprise footprint, with growing wallet share driven by vendor consolidation (across cloud, security, productivity, and DevOps) and a widening addressable opportunity as AI copilots gain traction beyond traditional IT budgets. Risks to Microsoft’s story include public cloud competition, a secular move away from Microsoft’s profitable on-premises software solutions, muted PC market growth, volatility among Microsoft’s hardware-oriented segments(e.g., Surface and gaming), and general macroeconomic risks impacting IT spending.