(NASDAQ: MSFT) stock has turned many shareholders into millionaires over the past few decades. After all, the software giant's climb toward $3 trillion of market capitalization has been fantastic, punctuated recently by its overtaking Apple as the world's most valuable business. It pays well to be along for that kind of ride, even if you were relatively late to the growth party.

The software giant's business looks much different today than it did 25 years ago, and tech trends will surely change many more times over the next several decades. Yet, the big question for investors going forward is whether the stock can still produce market-beating returns, given Microsoft's lofty valuation perch today. Let's look at the factors that could make this stock a positive force in the long run for your retirement portfolio.

While investors can't know which tech trends will dominate the industry in several years, they can feel reasonably confident that Microsoft will continue to be a leading player as those trends emerge. It already has excellent exposure to many growth niches, including cloud enterprise services, video games, cybersecurity, and artificial intelligence. That diversity also boosts its value to large customers, who are increasingly looking for a comprehensive software solutions provider.

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Source Fool.com