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• If you are wondering whether Microsoft is priced for opportunity or already fully valued, it helps to start with what the recent share price is really telling you.

• The stock last closed at US$384.37, with returns of 3.1% over 7 days, a 2.8% decline over 30 days, an 18.7% decline year to date, but a small 0.1% decline over 1 year alongside gains of 36.2% over 3 years and 54.8% over 5 years.

• Recent news has focused on Microsoft’s role at the center of long term themes such as cloud computing and artificial intelligence, as well as its ongoing investments in expanding products and services. This backdrop helps frame…