Microsoft: Back To Pre-COVID Multiples - But The Business Has Moved On

Microsoft ( MSFT ) has returned to valuation levels last seen before the COVID period despite a business that, in my view, is stronger today with a more diversified revenue base and a leading position in AI infrastructure.I am an equity investor with a strong focus on fundamental, bottom-up stock analysis combined with a structured macro framework. My investment approach centers on understanding business models in depth, assessing competitive positioning, and evaluating long-term value creation through disc ...