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The opportunity ahead for Microsoft is vast, but to seize it, we must focus clearly, move faster, and continue to transform.

As the leadership team, we're taking bold and decisive action to evolve our organization and culture. This includes difficult steps, but they are necessary to position Microsoft for future growth and industry leadership.

If you bet on Microsoft, you are not going to ask anymore, 'Hey, where is the innovation?' The challenge going forward is how do we keep up with it.

Bottom line, we will continue to innovate and grow our fan base with Xbox while also creating additive business value for Microsoft.

My guess is that Apple won't just pass Microsoft in market capitalization, but will go way beyond it.

A lot of people think, and Microsoft is happy to let them think, that all great things are invented by Microsoft. In fact, very, very little has been invented by Microsoft.

I think it would be absolutely reckless and irresponsible for anyone to try and break up Microsoft.

There's nothing more frustrating than seeing cynics sit there and say, 'Well, nobody can make any more money because Microsoft and Intel own everything.' Is the software industry mature, or is it embryonic? I would say it's embryonic. There will be a hundred more Microsofts, not just one.

I think Windows 8 is a catastrophe for everyone in the PC space. I think we'll lose some of the top-tier PC/OEMs, who will exit the market. I think margins will be destroyed for a bunch of people.

I think reconceptualizing Microsoft as a devices and services company is absolutely what our vision is all about. Office 365 and Azure on the services side are representative of it.