Microsoft ceased being a growth company in the late 1990s / early 2000s. It's now a mature to late-mature tech company.
As pg called it, Microsoft lost its dominance over the tech world by the early-mid 2000s. It was no longer mandatory to have "a Microsoft strategy" (e.g., partner, out-compete, be bought out). Today the pace is set by Google, Apple, Amazon, and Facebook. In about that order. The Economist's cover from a year or so back highlighted this.
E.g., Sun, SCO, Wang.