In the ever-evolving landscape of technology, 2023 has proven to be a remarkable year for Microsoft Corporation (NASDAQ: MSFT). The company’s stock has surged, mirroring the soaring success of its counterparts, Amazon (NASDAQ: AMZN) and Nvidia (NASDAQ: NVDA), in the ongoing artificial intelligence (AI) boom.
But even without this year’s rally, Microsoft’s growth trajectory over the past decade or so has been nothing short of extraordinary. For years, MSFT has shown remarkable consistency as a low-risk, stable blue-chip stock, turning it into the second-largest tech giant globally.
Let’s examine a specific example.
On October 1, 2010, MSFT’s stock price was $26.6 per share. Today, on September 25, 2023, the stock is trading at $317 per share ahead of the market open.
This means that during this period of roughly 13 years, shares of Microsoft soared by an impressive 1,092%, meaning that a $10,000 investment in MSFT back then would be worth over $119,100 today.
Therefore, the annual rate of return on the MSFT investment from 2010 to 2023 was approximately 28.86%.
Microsoft stock price analysis
At press time, MSFT was sitting at $317.01, after closing 0.8% lower on Friday, September 22.
Over the past week, the tech titan saw its stock price fall by nearly 6% and over 2% on the monthly chart.
Year-to-date, however, MSFT remains 30% higher, fueled by its heavy exposure to the booming AI space.
Microsoft launches more AI capabilities
At the company’s global autumn event on September 21, Microsoft announced it will replace its discontinued virtual assistant Cortana with an AI-powered Copilot, which will become available on Windows 11 and Microsoft 365 on Tuesday, September 26.
Furthermore, the company also unveiled major AI upgrades to Bing’s shopping, image creation, and enterprise chat capabilities, powered by OpenAI’s new DALL-E 3 image generation model.
The legendary Microsoft Paint, and other native Windows apps like Photos and Clipchamp, will also be getting AI updates.
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