Microsoft is expected to report lackluster results Thursday ... but Wall Street isn't likely to mind.
It's 2007 investors and analysts are thinking about. That's when Vista, the first major update of the Windows operating system since 2001, finally rolls out.
In addition, the world's largest software maker will roll out the latest version of its Office software suite next year.

Also contributing to the upbeat outlook for Microsoft is its Xbox gaming device, which looks poised to take some market share from Sony's PlayStation this holiday season, analysts said.
Microsoft still loses money on each Xbox console, but those losses are starting to diminish, Goldman Sachs analyst Rick Sherlund wrote in a recent research note. Sherlund, who has a "buy" rating on Microsoft, expects the company's Xbox operation to turn profitable by the September quarter of 2007.

Read More: Business, financial, personal finance news - CNNMoney

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