The entire tech market experienced steep declines in 2022, with worldwide PC shipments reducing by 15% in the third quarter of 2022. As a result, industry leaders such as Microsoft (NASDAQ: MSFT) and Nvidia (NASDAQ: NVDA) have watched their stocks plunge over 30% year over year. However, the companies have retained their status as growth stocks, with shares in each company rising over 150% since 2018.

Despite market declines brought on by macroeconomic headwinds, Microsoft and Nvidia continue to have excellent long-term outlooks. And if you're wisely looking to take advantage of the recent sell-off, you might wonder which is the better growth stock. Let's take a look. 

Amid stock market declines, Microsoft has proven the strength of its diverse business. While companies such as Amazon, Advanced Micro Devices, and Netflix have watched their stocks plunge between 49% to 57% year over year, Microsoft shares have fallen 32%. The company's ability to outperform its peers was primarily thanks to the diversity of its revenue from high-performing industries.

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Source Fool.com