(NASDAQ: MSFT) stock recently set a new all-time high, eclipsing the record that shares reached just before markets started tanking in early 2022. The stock is up over 40% so far in 2023. Along with some positive news about Microsoft's efforts related to artificial intelligence (AI), a big factor in the rally has also been the surging Nasdaq Composite index, which is up 29% so far this year.
Microsoft's huge gains so far this year raise questions about whether investors can still see good returns from buying the stock at today's prices. Let's take a closer look at whether this diversified tech business is a good fit for long-term investors' portfolios.
It's not hard to see why Wall Street is more optimistic about Microsoft lately. In late April, the company announced improving growth trends, with year-over-year revenue gains landing at 10% compared to just 2% in the prior quarter. Its cloud and enterprise services all saw strong demand even as economic growth rates slowed in some markets.
Source Fool.com