Microsoft, which Taylor says already has an “impeccable balance sheet,” isn’t likely to take more than a minimal earnings hit from the LinkedIn transaction, which it is financing through low-interest-rate debt—a much cheaper alternative than repatriating (and paying tax on) its overseas cash horde to pay for the deal. Though Microsoft’s earnings per share shrunk nearly 44% in 2015—further declines this year are one reason the stock has sold off recently—Wall Street is betting that the trend is about to reverse, forecasting EPS growth of almost 45% in fiscal 2016. As Microsoft’s cloud business—second only to Amazon Web Services, Taylor says—continues to grow and the company reaps benefits from combining with LinkedIn over the next year, “you’ll start to see the earnings growth that we haven’t seen in recent years,” says Taylor, who recently added to his Microsoft stake.