Microsoft 公布了财报，我对 Microsoft 的反应没那么负面，但对 Asit、也就是 Alphabet 财报的反应相当奇怪。股价已经下跌了 13%。他们报告云业务增长了 100%。
Microsoft reported that my reaction to Microsoft was a little less negative, but the reaction to Asit, Alphabet's report, is quite strange. The share price has fallen by 13%. They reported 100% growth in their cloud business.
但再看看 Microsoft。市场在寻求 Microsoft 给出一些 reassurance。他们的云增长率是惊人的 48%。这是 Google Cloud 业务增长率的一半。
不过，市场是满意的，因为 Microsoft 没有承担不必要的风险。他们大部分支出都是用自由现金流覆盖的。
But then look at Microsoft. The market is looking for some reassurance from Microsoft. Their cloud growth rate is an astonishing 48%. This is half the growth rate of Google Cloud's business.
However, the market is happy because Microsoft is not taking unnecessary risks. They are mostly covering expenses from free cash flow.