Perhaps, but I think it's marginal in practice. Whether MSFT makes an internally accounted 10% margin or 10% loss on their $8bn in revenue, Apple collect >$8bn which is entirely profit.

Cooperating and accepting a slice of Google's monopoly profits is far more profitable that competing would be, in all but the most bullish scenarios.

IE, MSFT would need to be outright challenging Google's 1st place position in search marketing to have a hope of earning more than Apple do by doing nothing, spending nothing, investing nothing and taking no risks.

Also, what would it take for MSFT to compete with Google in earnest? For one thing, Microsoft would need to outbid Google for such deals. They'd need to pay Apple, Telcos, and such more than Google do now.