Microsoft is down 23% this year.

EPS is going up.
Revenue is going up.
You are getting it at 24x trailing earnings.
That is a fundamentally fair valuation for a company growing at this rate.
When profits go up & the stock goes down. That is a discount. That is the setup.
The play:
- Buy some shares (~5% of portfolio)
- Sell puts at $320 strike 2 years out
- Buy calls at $380-390 2 years out
EPS grows. Stock follows. That is it.
Keep ratios in check. Be patient.