If there's no more Windows, how else will Microsoft sell it's other more pricey products (especially all business division products). My view is that Microsoft is transforming Windows into a platform for other Microsoft software and services to easily built on top of it.
I wonder if there is any development on Bing and other Microsoft online services, it has been very, very quite in the last few months. Maybe a Bing spring refresh is coming?
Also, the whole industry is going mobile. All the OEM bulk licencing is going to increase and no as many Windows licences sold directly to consumers which may impact the division's bottom line significantly.
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