Microsoft's Long-Term Growth Case Remains Strong
Rick Orford has owned Microsoft for over 10 years and wouldn't sell a single share, not even today. The company he bought back in 2016 has changed significantly, shifting from a PC-centric software business to one built on cloud, subscriptions, enterprise software, and artificial intelligence.
The bigger change is where the growth came from: Microsoft expanded its products across largely the same enterprise customer base. This matters over a 10-year holding period because the company doesn't need every new dollar of revenue to come from a new customer.
Azure alone passed $100 billion in annual revenue, and AI gives Microsoft another opportunity to build on that advantage. In the fourth quarter of fiscal 2026, Azure and other cloud services revenue grew 43%, while commercial remaining performance obligations rose 84% to $678 billion.