What's the Right Valuation for Microsoft?

Shannon Barys: What is the reasonable relative premium over the rest of the market that companies that can grow their top line without significant secular tailwind? Because that premium has moved dramatically downward. I would say that's what's trickiest right now because that inflection point of when the Fed not necessarily cuts rates, but potentially can ease their foot off the gas. She thinks we're going to go back into a slower economic environment in 2024.