This isn't a fair analysis. XBOX is probably one of the only groups that is moving in a positive direction at Microsoft. Yes, they've lost billions, but Microsoft expected that going in. The billions they've spent over the last few years is a small price to pay for making Windows technology the center of the home entertainment experience as well as owning a significant content pipeline into the living room.

However, despite my confidence in XBOX, Microsoft is still going to experience a lot of bleeding because XBOX at its best isn't enough to cover for the fact that the Desktop and Windows OS are becoming irrelevant.