MSFT Off With Markets The market is in the negative on a big downward revision in the housing index as well as ongoing slowing growth fears for China. Shares of MSFT are off near the flatline while the rest of tech is tanking. Upcoming catalysts include Windows 8, Windows Server 8, Office 15 and Windows Phone 8; expansion in the smartphone market with primary hardware partner Nokia ; strides in cloud computing; profitability in the online business, including integration of Skype ; and continued evolution of Kinect and next generation Xbox. The stock currently trades at 8.6x Enterprise Value / TTM Free Cash Flow.