Create a new file with 1280×1024 px and 72 dpi. Apply this instrument

to represent the primary layer of the picture to be:

Blending Options-Gradient Overlay

Gradient’s parameters:

Select now the next tool

to draw an optical effect of object’s reflection, having white color.

Fill 0% on the layers.
Make two copies of the new layer and select Free Transform option to make the copies smaller a little:

Create a new layer and choose a brush of big size with blurred edges and white color to draw a kind of flare on the layer:

Choose the next tool

to create this time the sphere’s shadow, colored in 386A9C.

Blending Options-Outer Glow

Blending Options-Inner Glow

Blending Options-Color Overlay

Select the previous instrument

to represent the primary sphere’s layer:

Fill 0% on the layers:
Blending Options-Inner Glow

Blending Options-Gradient Overlay

Gradient’s parameters:

Using the already known instrument

, represent a layer reserved for shadow’s smooth appearing, colored in 313F58, having the same sizes the shadow has.

Fill 9% on the layers

The next instrument

will be helpful in representing the fourth part of the famous Windows logotype.

Fill 0% on the layers:
Blending Options-Outer Glow

Blending Options-Bevel and Emboss

Blending Options-Gradient Overlay

Gradient’s parameters:

Make three copies of the new made layer and make use of the Free Transform option to turn over the drawing if that is necessary and place it the way it is indicated on the picture.

The parameters of the orange element:
Blending Options-Outer Glow

Blending Options-Bevel and Emboss

Blending Options-Gradient Overlay

Gradient’s parameters:

The parameters of the red one:
Blending Options-Outer Glow

Blending Options-Bevel and Emboss

Blending Options-Gradient Overlay

Gradient’s parameters:

The parameters of the blue element:
Blending Options-Outer Glow

Blending Options-Bevel and Emboss

Blending Options-Gradient Overlay

Gradient’s parameters:

Select the next tool

to draw a flare on the sphere’s surface:

Fill 0% on the layers:
Blending Options-Gradient Overlay

Gradient’s parameters:

Make a copy of this new made layer and make use again of the Free Transform option to turn it over the way it is shown on the next picture, changing also the parameters:

Blending Options-Gradient Overlay

Using the same instrument, draw one more flare of white color:

Finished!

View full size here.