A lot of people on my place would probably start arguing with you, but I have to admit that your argument is really good, it helped me to look on the MSFT from an onther prospective. Thank you.
In past decades, it was an extremely popular topic of some to explain why Microsoft would lose market share and go out of business. Companies like IBM, Oracle, Sybase, Netscape, Sun Microsystems etc etc were all supposed to be ready to end Microsoft's run. There were others that lasted only a few years then went out of business. There are too many superstitious posters on here that do no research. If you put up the numbers ( eg AAPL's sales in China ), they ignore them because their mind can't process it.
Microsoft has found ways to leverage their capital and create new products. For example, at one point SQL Server was not well received, but eventually it took large market share because of the natural synergies with PC and network based software, and they do have a large client base. They weren't always efficient in their acquisitions, but so far nobody has found a decent way to penetrate their PC operating system monopoly that was supposed to end 20 years ago if you believed the pundits. The easiest business in the world is dominating a commodity that everyone needs, and they made a PC operating system a commodity.
If Microsoft is going downhill, it will be more obvious. In fact, they've had one of their best years recently. Cloud computing, analytics, and spending on IT is ramping up now versus recent years. Some companies will do very well in this environment. I have no idea who is winning that war, but a surface check seems to suggest Microsoft is doing well and IBM not very well ( hence massive lay offs and restructuring at IBM ). The consulting businesses can be quite lucrative if your products are used.
I tend to look at P/E levels and MSFT looks rich and AAPL dirt cheap. However, sometimes investors are ahead of the curve and future market shares are being priced in. So hard to say what any of these tech giants are really worth.