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Going off what I could find easily from Google + ChatGPT [1]:

But arguing about the details is kind of missing the point. Microsoft's value is also inflated by the AI bubble and can't be used as a point of reference.

[1] https://www.grandviewresearch.com/industry-analysis/software...

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I don't think MS value has been inflated by AI, if anything it's value has decreased from it's AI investments. MS has mostly been on it's same growth path for the last decade.

I think you haven’t been paying attention to the market then over the last couple years. Despite getting hammered recently, it is still up 100% from 2023 lows.

Am I crazy? MSFT has was up about 100% in the prior three years before 2023 as well, and again for the three years before that.

AI has had very little to do with MSFT growth. Pretty sure the 2023 lows were a response to the massive AI spending, and the recovery mostly due to continued Azure services growth.

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