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[emphasis added] Those Surface devices get star billing, sandwiched between Windows (one of Microsoft's core businesses) and its cloud-based services.
Forward-looking statements may appear throughout this report, including without limitation, the following sections: "Business," "Management's Discussion and Analysis," and "Risk Factors." These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions.
Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements.
Later in the same section, there’s another new paragraph that hints that Surface is just the beginning: Elsewhere in the same section, where last year’s report referred to the Xbox 360 console, this year’s report calls out “Surface devices and other hardware devices we design and market.” The word devices appears 11 times in the “Risk Factors” section of the 2011 10-K.
It appears 25 times in the equivalent section this year.
Every publicly held corporation whose stock trades in the United States is required by the Securities and Exchange Commission to file a detailed annual report (Form 10-K) at the end of its fiscal year. I especially love reading the parts that make corporate lawyers and executives squirm, because they’re required to divulge details they would never discuss with journalists.
And although there’s a fair amount of boilerplate and yadda yadda, there’s also a lot of substance buried in these reports.
I’ve just completed my detailed analysis of Microsoft’s 2012 10-K.
My fellow Microsoft watchers picked up one fairly obvious statement from that report—yes, Microsoft acknowledges that In the “Risk Factors” section of its 2011 10-K, Microsoft used the word services 44 times.
A detailed discussion of risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in the section titled "Risk Factors" in our fiscal year 2013 Form 10-K.
We undertake no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events, or otherwise. Our mission is to enable people and businesses throughout the world to realize their full potential by creating technology that transforms the way people work, play, and communicate.