• The Nasdaq climbed 43% in 2023, one of its best performances in two decades.
  • Similar to the rallies in 2009 and 2003, the Nasdaq was coming off a brutal year for investors.
  • This year's bounceback was led by huge gains in chipmaker Nvidia and Facebook parent Meta.
Tech stocks on display at the Nasdaq.

Tech stocks rebounded from a disastrous 2022 and lifted the Nasdaq to one of its strongest years in the past two decades.

After last year's 33% plunge, the tech-heavy Nasdaq finished 2023 up 43%, its best year since 2020, which was narrowly higher. The gain was also just shy of the index's performance in 2009. Those are the only two years with bigger gains dating back to 2003, when stocks were coming out of the dot-com crash.