Hmm? Have things drastically changed recently? Quick googling found this :
http://www.microsoft.com/en-us/news/press/2011/oct11/10-20fy12Q1earningsPR.aspx
http://www.apple.com/pr/library/2011/10/18Apple-Reports-Fourth-Quarter-Results.html
Looks like Microsoft quarterly net income was ~5.74B, Apple was 6.6B.
Maybe newer numbers show something different, that was just lazy quick search for top google results for 'apple profits' and 'microsoft profits'.
This doesn't add up to what either of you are saying. The guy you were replying to was falsely claiming that Microsoft was somehow massively more profitable. Is apple really double Microsoft in profit each quarter now?
Microsoft will be shrinking imho though, Windows 8 is just ridiculous, there is no way for them to compete realistically with Apple and Google in mobile, it's idiotic of them to even try. Hamstringing desktop and corporate users who overwhelmingly don't have touchscreens with a touchscreen-centric interface is asinine.
It's not all roses for Apple though either. People are realizing all the time that it's not necessarily the best idea to spend hideous amounts of money on tablets and phones when the cheapies are getting better and better. The economy isn't exactly great, and nothing is 'hip' forever. It's likely that sometime in the next decade or so, a lot of our current tech will look as dated as bell bottoms, so if Apple doesn't keep finding new things to do, it's just going to be an inexorable slide. Look at iPod sales now, it's all moved to phones. Now with phones, what happens when a $99 phone is as good as what Apple wants $400-$800 for with most people's uses.