Microsoft Corp.'s business ambitions have never wavered. Microsoft was founded in 1978, went public in 1987, and has since grown to become the world's largest technology company and one of the world's largest publicly traded companies. It has as an enormous cash balance of around $55 billion on its balance sheet and 93 percent share of the consumer software market. Investors typically regard MSFT stock as a no-risk investment with a stock price that will keep going up. However, that is not the case.

Yes, Microsoft has a ton of cash on the balance sheet. But it's not balance sheet cash or market share that propels a stock price upward. It's growth. And growth leveled off at Microsoft about 18 months ago, when the company went ex-growth and ex-cash.