At present, both Microsoft and AWS are in a land grab using low price. Amazon claims 48 price cuts over eight of AWS’ nine-year life; Microsoft has cut prices, too, but never succeed in undercutting AWS. It's been like watching BA try to beat EasyJet on ticket price.
AWS denies its price cuts are a product of competitive pressure and dismisses claims it will raise prices once it’s got you by the short and curlies in the future.
Microsoft is chucking Azure and Office 365 into enterprise accounts at shockingly discounted prices simply as part of massive deals.
Whether both continue to cut is unclear, and also unclear is when Microsoft stops chucking its cloud in with enterprise licences and starts upping prices.
Then, finally, we might see Microsoft overtake AWS and put Bezos’ firm in its rear-view mirror. ®