Microsoft is in the midst of a major overhaul.
It's building its own tablets, risking its relationships with device makers. Its plan to hurt Google with Bing hasn't worked. It's still struggling to get people to love its phones.
Its most recent quarterly report plainly spelled out its biggest threats.
Microsoft has a lot of opportunities, and it's talked plenty about those. But here's what the software giant should worry about—straight from its own mouth.
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