In the video below, Motley Fool analysts Austin Smith and Charly Travers discuss the opportunities that Microsoft (NASDAQ:MSFT) offers investors, and what may be the tech giant's most underappreciated weapon -- the one in your living room. That's right: Xbox.

Xbox, which sold like hotcakes during last year's holiday season, has become more than just a video gaming system. It is a content aggregation system, and more people are using it to view movies and other media, as Charly explains. With investors' focus trained more on the forthcoming Apple (NASDAQ:AAPL) TV, this "sleeper opportunity" could serve as a big catalyst for Microsoft in the years to come.

Austin Smith owns shares of Apple. Charly Travers owns no shares of the companies mentioned above. The Motley Fool owns shares of Apple, Microsoft, and Netflix. Motley Fool newsletter services recommend Apple, Microsoft, and Netflix. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.