anti-trust issues that it had but can it stay that way here to discuss what's ahead from microsoft, dan gallagher is reporter for the "wall street journal" and dan ives is equity of research. let me just start with a comment from you sort of on apple's performance after it crossed the $2 trillion mark this was last august it suddenly expanded its p.e. in a way apple was not known for. i think since then on a split adjusted base, apple is up 5 bucks, maybe 7 is there a risk with microsoft the same kind of trading lift could happen >> yeah, it's a graept point but i think it's different here with microsoft because there's no regulatory overhang right now for apple that's about a $20 overhang in terms of regulatory as well as epic lawsuit battle and it comes down to cloud really right now this is the best way to play cloud microsoft still a third of the way through the sort of cloud transformational upgrade cycle i think trillion dollar opportunity just on cloud alone over the coming years. that's why i give microsoft -- 325 is our price target. i think it's all crowd growth and talents that we're s