Microsoft (NASDAQ: MSFT) has been on an epic run so far in 2023, fueled by a continuing resurgence in technology stocks. Shares of the software giant are up nearly 40% so far this year, more than three times the 11% gain of the S 500. This marks a reversal of fortunes from its performance in 2022, when the stock dropped nearly 29%. 

There's little question that the company's pivot to artificial intelligence (AI) and consistently sturdy financial results have helped drive the rising stock price. Furthermore, Microsoft has been remarkably resilient during the downturn, continuing to spend heavily on future opportunities, helping fuel investor confidence that the company is positioning itself for a bright future.

What does this mean for those who missed out on Microsoft's current run? Should they buy the stock now with the expectation of further gains or delay buying because of its frothy valuation and continuing sluggish sales in the personal computer (PC) market? Let's see what the evidence reveals.

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Source Fool.com