MSFT : Biggest fortress making this the most stable of all of big tech

After reviewing all their SEC filings against their main competitors, I've come to conclusion the narrative over CapEx and GPU shortages are simply just editor narratives to sell clicks. The analysis is pretty cut in dry into where MSFT is headed. The headlines keep crying about Microsoft spending $15B a quarter on infrastructure (20% of their revenue).The risk is Margin compression and Gross margins dipped a tiny bit to 70%.However their contracted revenue hit **$392 Billion**. 6.5x their annual infrastructure spend. And by doing so, MSFT is building the only road that can handle that traffic. The IRS wants $28.9B for old tax disputes and the EU is still breathing down their necks over Windows/LinkedIn. They have **$102 Billion in cash**. Even if they lose the IRS fight, they could pay it out of their pocket tomorrow and still have $70B+ left over. MSFT’s scale makes regulation a moat, not a hurdle moving forward. People think MSFT needs more users to grow. They don't. Their Consumer Cloud revenue grew **26%** while subscribers only grew **7%**. Once a company is wired into Azure and Teams, the switching cost is basically a total business lobotomy. They have zero incentive to leave. At a 30-33x P/E, you’re buying a digital utility with a growth engine that hasn't even hit top gear yet. Where are my blinders on this? I truly can't see why this won't be the most set-it and forget-it firm for the foreseeable future.