I have no doubt Nadella is a better CEO than Balmer, he's definitely been a better resource allocator. But MSFT's EPS has. basically been flat since before Satya arrived. It's stock price tripled because it's a bull market, no other answer necessary.
Microsoft seems grossly overvalued with a P/E of 50. For the longest time, Microsoft had the same P/E as the s&p500 (10-18), but now it’s 56% above the s&p500’s (23). If Azure were to fall behind, I could see msft’s stock dropping by 40% and kept aloft mostly by it’s dividend, Money has been pouring into the whole tech stock sector after that cryptocurrency selloff earlier this year.
To be fair all major stocks have increased the last five years.
LinkedIn brings in more rev that Windows products seriously? Is there a table somewhere showing what they are spending on different product groups?