Microsoft's Astonishing Comeback - Its Stunning 974% Decade Growth and the Promise of More to Come!

• Over the last decade, Microsoft's stock has demonstrated substantial growth, rising 974%, highlighting its potential as a stable investment for long-term portfolios.
• The stock is currently stabilizing at a $420 support level, suggesting the possibility of another sustained upward trend.

The past few months have been strong for Microsoft Corp MSFT. It has formed an uptrend where the stock climbed by 11%, peaking at 14%. The trend began to unfold in January 2024, when the stock surged past the high of 2023 at $384, signaling a decisive victory for buyers pushing the market upwards.

January also witnessed the stock breaking past the psychological $400 resistance. Looking back at 2023, the stock rose by 57%. However, 2022 tells a contrasting story, as the stock experienced a 28% decline while being trapped inside a period consolidation, ranging between $215 and $349.

Taking a long-term view of Microsoft's stock offers an overall perspective on its performance. Its 974% growth over the past decade paints a picture of a stock that's a solid pick for long-term portfolios.

Witnessing a 38% plunge from November 2021 to November 2022, the stock certainly faced its share of challenges. However, bouncing back with an impressive 96% recovery from its lows, Microsoft showcased its resilience to overcome setbacks.

The stock is currently holding at a $420 support level. Should this support level hold strong, investors might just be on the cusp of witnessing another strong long-term upward trend.

After the closing bell on Monday, April 1, the stock closed at $424.57, trading up by 0.91%.

This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.