MSFt has way more money in the bank, and it also has triple AAA credit rating, and most importantly, MSFt will make $5-8 billions of net profit each and every quater, regardless of the economy or anything else.
Remember, MSFt makes the most amount of money from Offcie and Servers and Tools, and these two divisions are growing nicely. Windows phones are picking up steam.
MSFt will slowly and surely get into harwares in a big way, so that it can increse windows total profitability, like APple has down to Imac and Ipads and so on. INtc is losing the batter in chips since it cannot supply low powered chips like ARM chips. The single fact that Win RT is going to branching out quickly can cauise a fetal blow to INTC, making intc sacred as hell. MSFt on the other hand is sound, unlike other PC makers.
SO, in summary, MSFt should on one hand pushing Win RT systems, and on the other hand buying the shares back like crasy when it is selling at a effective p/e of 5. Dividends cis not as effective as cuttign down the numbers of shares by 10-20%.