Microsoft and H-P are giving away a brand new laptop. Well, practically giving it away.

The HP Stream 11 runs a full version of Windows 8.1 yet costs only $200. But wait, there’s more: It also comes with a free year of Office 365 and 1 terabyte of Microsoft OneDrive cloud storage—a $70 value. Buyers even get a $25 gift certificate for the Microsoft Windows Store. Do the math and this laptop costs $105.

It...