(NASDAQ: MSFT) is one of the "Magnificent Seven" -- a small set of massive tech companies that were key drivers of the S 500's impressive 20%-plus returns so far this year. The company's role in artificial intelligence (AI) -- including its investment in and partnership with ChatGPT-maker OpenAI -- made it a popular stock for growth-oriented investors. But that attraction could face a big test next year when some investors will be looking for rapid signs that AI truly is having a game-changing effect on the business.

Given how well the stock performed this year, they will likely expect a lot from the business in 2024. It won't be easy for Microsoft to meet those expectations.

Share prices of Microsoft are up by more than 50% this year. And in four of the past five years (2022 being the only exception), the tech stock's price has gained at least 40%. Since 2019, the stock has climbed by an incredible 260%. The S 500, by comparison, has risen by a more modest 84%.

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Source Fool.com