Bear markets are when smart long-term investors feast on world-beater blue chips at good to great prices.
Microsoft is the ultimate sleep-well-at-night bear market buy, in my opinion, a tech utility whose services are essential to businesses.
MSFT is still growing at double-digits even as global growth slows, and its #2 market share in the cloud is getting larger.
Its 33% FCF margins are minting cash, and adding to a $106 billion cash pile that’s expected to almost double even with $170 billion in buybacks over the next five years.
MSFT is 12% historically undervalued, a good buy, and at $171, a 35% discount, becomes a table-pounding “back up the truck” buy.
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