I think Microsoft only has a short window of opportunity in the sub $500 market, but that one is rapidly being eaten by Android, and the fact that (regular) Windows licenses cost $100-$200, and that Windows machines need expensive Intel chips to run properly (especially for the more "bloated" x86 programs), their future isn't looking too good there either.
PC sales "growth" is not going to come back, and so far Windows hasn't made a big impact in the touchscreen market (or so called "post-PC" market) yet, so I expect Microsoft's Windows business to be on a decline from now on, and the decline might happen faster than anyone is expecting. The same goes for Intel (Otellini was smart to get out now).
EDIT: @kenjackson - I can't reply to you it seems, but Apple owning the over $1,000 market is not that new. This is from 2009:
http://betanews.com/2009/07/22/apple-has-91-of-market-for-1-...
It also seems the average price of Windows notebooks used to be $700 back then. Now it's under $500. I don't think the average price for Windows notebooks is going to go back up again.