The investment thesis for Microsoft is straightforward: Office software is an essential resource for most enterprises, and Microsoft 365 is the clear market leader. In fact, it's the most popular enterprise software product in any category. Likewise, cloud computing is becoming increasingly popular, as it offers a more convenient and cost-effective option for clients. In addition, Microsoft recently launched Azure Percept for edge AI and updated Azure Arc for hybrid clouds, both of which are core to its growth strategy. These products address quickly growing industries, which should help Azure continue to gain market share. Compared to PayPal and Okta, Microsoft trades at relatively cheap multiples: 11 times sales and 33 times earnings. Microsoft is also much larger, with a market cap of $1.8 trillion. Generally speaking, that indicates less long-term upside. However, the company's titanic size is also an incredible advantage, allowing it to outspend and operate more profitably than many rivals. That's why Microsoft looks like a good long-term investment.