A dispassionate view of the quarter reported yesterday without regurgitation of the fear induced from an invisible virus that appears to be less fatal than other demises in the ordinary course of the human condition is that cloud and cognitive computing is a good business with 75% margins on 5 billion in quarterly revenue. Extrapolate that to $20 billion for the year and a 10% growth rate implies a value of $140 billion for the business line by fancy academic metrics (growth rate * gross margin) or at even half of that ($70 billion) would account for seventy percent of the market cap of $100 billion. The benefit is that it is not a promise of future cash flow in a business model that requires a series of quarterly ventilators but paying customers with enforceable contracts
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