Tech giant Microsoft (NASDAQ: MSFT) did not escape last year's tech stock sell-off; however, its 28.7% decline was more than 4 percentage points better than that of the Nasdaq Composite, which fell 33% in 2022. Not only does Microsoft tend to fall less than the Nasdaq in downturns, but the stock has also handily beat the index over the past 3-, 5-, and 10-year periods. While Microsoft certainly has some concentration in the high-growth cloud services and server products segment, no single category makes up more than 50% of the business.