Stopwatch automatically checks for the existence of high-precision timers.
It is worth mentioning that DateTime.Now often is quite a bit slower than DateTime.UtcNow due to the work that has to be done with timezones, DST and such.
DateTime.UtcNow typically has a resolution of 15 ms. See John Chapman’s blog post about DateTime.Now precision for a great summary.
Interesting trivia: The stopwatch falls back on DateTime.UtcNow if your hardware doesn’t support a high frequency counter. You can check to see if Stopwatch uses hardware to achieve high precision by looking at the static field Stopwatch.IsHighResolution.