2023-06-30 10:07:00 ET
The tech sector has pleasantly surprised many investors this year, including shareholders of Microsoft (NASDAQ: MSFT) . Artificial intelligence (AI) hype, the potential for a slowdown in Federal Reserve interest rate hikes, and overall optimism surrounding the market's 2023 outlook have benefited Microsoft, up over 38% so far this year.
Despite its 2023 rally so far, Microsoft is still a great buying opportunity for long-term investors right now -- especially if it reaches its 2030 projections.
In its fiscal third quarter, ended March 31, Microsoft brought in $52.9 billion in revenue. That was up 7% year over year and puts the company on pace to outperform the $198.3 billion in revenue it made in its fiscal 2022. Still, that's only scratching the surface of the potential.
For further details see:
Historic Buying Opportunity: Why Microsoft Is a No-Brainer Stock