对很多普通用户来说，激活 Windows 只需要点几下鼠标、联网几秒钟就能搞定。但在大量政企内网、工业控制系统、涉密终端和无外网环境中， Windows 的激活方式从来不是一件小事。 而现在，这条维系了十多年的"生命线"，可能正在被微软悄悄切断。 最近，多名用户发现，Windows 11、Windows 10，甚至 Windows 7 上的电话激活功能已经无法使用——令人意外的是，微软并未发布任何官方公告，相 关支持文档也尚未更新，但从实际测试结果来看：Windows 的官方离线激活路径，几乎已全部失效。 电话激活，曾是官方"无网络激活"的最后保障 长期以来，微软一直都提供两类 Windows 激活通道： 在线激活：设备联网，通过微软服务器完成验证； 电话激活：在无法联网的情况下，通过拨打微软激活热线，输入安装 ID，获取确认 ID 离线激活系统。 其中，电话激活是自 Windows XP 时代启用的一种验证方式，至今已沿用 20 余年。对很多政企单位来说，电话激活并非"备选项"，而是唯一可行方案： 不少内网终端从系统部署到使用周期内，根本不允许接入公网。 早在去年 11 月，微软已先一步移除了非官方的 KM ...

Core Viewpoint - Microsoft is positioned for strong growth and substantial shareholder returns due to its significant stake in OpenAI and the growth of its Azure cloud business, with a market capitalization exceeding $3.5 trillion [1]. Financial Performance - Microsoft reported impressive financial results with all core metrics achieving double-digit growth, driven by a robust cloud business, with revenue increasing by 18% year-over-year (17% excluding currency effects), approaching $77.7 billion [3]. - The operating profit margin reached 99%, with operating profit at $88 billion, and net profit of $77.7 billion, resulting in diluted earnings per share of $3.72. The current price-to-earnings ratio is approximately 33 times [3]. Shareholder Returns and Capital Expenditure - Microsoft returned $10.7 billion to shareholders this quarter, with a total yield slightly above 1% and a dividend yield of only 0.66% [6]. - Capital expenditures surged to $44.9 billion to meet the growing demand from Azure, with expectations for continued growth in capital spending [6]. - Free cash flow reached $55.7 billion, supported by revenue growth and a leasing model that mitigates the impact of AI-related disruptions [6]. Business Segment Performance - The cloud business is the core growth engine, with commercial orders driven by OpenAI increasing by 122% year-over-year, while Azure's revenue grew nearly 99% [9][10]. - The productivity and business processes segment continued to grow, benefiting from a slowdown in cost growth and improved gross margins [10]. - The Windows OEM and gaming segments showed the slowest growth, with Windows OEM revenue increasing by 6%, primarily due to a one-time boost from the transition from Windows 10 to Windows 11 [10]. Core Advantages - Microsoft has three main advantages for future development: 1. Antitrust compliance advantage, having successfully navigated past antitrust challenges, allowing for greater operational flexibility [12]. 2. A diversified business portfolio that includes Windows, Azure, ChatGPT, GitHub, LinkedIn, Xbox, and Blizzard, enhancing resilience against market changes [12]. 3. Valuation advantage, with a non-GAAP annualized earnings per share of $16.5 and a price-to-earnings ratio of about 30 times, making it more attractive compared to competitors like Google [13]. Conclusion - Despite a market capitalization of $3.6 trillion, Microsoft is believed to have significant growth potential, supported by its diversified business model and strong performance in the AI sector, particularly with Azure and ChatGPT [17][18].

This story was originally published on CIO Dive. To receive daily news and insights, subscribe to our free daily CIO Dive newsletter. Dive Brief:  AI PC shipment growth will rapidly decelerate heading into next year, according to a report published Wednesday by The Futurum Group. The sunsetting of support for Microsoft’s Windows 10 served as the primary motivator for enterprises adopting AI PCs in 2025.  Growth rates will start to normalize in 2027, however, as enterprise AI PC adoption starts to follow ...

Core Insights - The US PC market experienced a 1% year-on-year decline in shipments in Q3 2025, totaling 17.7 million units, marking the second consecutive quarter of decline [1] - The consumer segment showed resilience with an 8% growth in Q3, reaching 7.6 million units, while the education and government segments faced a significant 23% drop [1][2] - Despite the overall decline, the outlook for the holiday season remains positive, with a projected 4% growth in total shipments for 2025 [1] Segment Analysis - **Consumer Segment**: - Grew by 8% year-on-year in Q3 2025, marking the strongest performance of the year [4] - Forecasted to decline in Q4 2025 due to deteriorating consumer sentiment driven by inflation and rising interest rates [4] - **Commercial Segment**: - Remained stable with a decline of just under 1% in Q3 [1] - Expected to return to growth in Q4, supported by the transition from Windows 10 to Windows 11 [3] - **Education and Government Segments**: - Experienced a 23% decline in Q3, attributed to reduced government funding and layoffs [2] - Both segments have shown a pattern of continual decline after a strong start in Q1 2025 [2] Shipment Forecasts - Total US PC shipments are projected to reach 71.662 million units in 2025, with an annual growth rate of 3.5% [5] - Breakdown of shipments by segment for 2025: - Consumer: 26.809 million units, 1.9% growth - Commercial: 31.545 million units, 7.1% growth - Government: 3.946 million units, 2.9% growth - Education: 9.362 million units, -2.4% decline [5] Vendor Performance - In Q3 2025, HP led the market with 4.326 million units shipped, holding a 24.4% market share, followed by Dell and Lenovo [7] - Apple showed significant growth with a 12.4% increase in shipments year-on-year [7] - Overall, total shipments in Q3 2025 decreased by 1% compared to Q3 2024 [7]

This story was originally published on CIO Dive. To receive daily news and insights, subscribe to our free daily CIO Dive newsletter. Dive Brief:  HP will cut between 4,000 and 6,000 jobs by 2028 due to recent cost headwinds as it invests in AI-enabled initiatives, the company said in a press release and earnings call for its fourth quarter and full fiscal year 2025, which ended Oct. 31. The company reported net revenues of $55.3 billion for its 2025 fiscal year.  The workforce reductions comes as the co ...

As HP Inc. (NYSE:HPQ) approaches its fourth-quarter earnings report on Tuesday, the stock sits at a pivotal juncture defined by a single number: $30. This price target has become the unlikely meeting point for both bulls and bears, representing a collision between two competing narratives.On one side sits the “AI Hype”—a promised revolution in personal computing. On the other looms the “Windows 10 Cliff”—a forced hardware obsolescence event that analysts believe matters far more for HP's immediate bottom li ...

‘Upgrade Now’ Microsoft Warns As Urgent Windows Update ConfirmedWhile it is enabling business and home users to stick with Windows 10 for another year at least, longer for enterprises willing to pay more, the company doesn’t want you to do that.https://t.co/0osc0gqzDu (Photo: NurPhoto via Getty Images) ...

Bad News For Microsoft Windows 10 Users — Another Security Update Fail https://t.co/Facsvg6WX6 ...

Microsoft has suddenly issued a just-in-time update for Windows 10 users hit by an awkward failure that has stopped “essential security updates” installing on their PCs. https://t.co/00HVasBHgC ...

Security Risks - Millions of Windows 10 users are now at risk due to the end of security updates [1] - Hackers are inevitably preparing attacks targeting Windows 10 users [1] Microsoft's Action - Microsoft has stopped providing security updates for Windows 10 [1]