Tech stocks have been surging in 2023. The Nasdaq Composite, which is skewed toward technology stocks, has jumped more than 30% so far this year. Investors are clearly getting more comfortable betting on riskier stocks after sentiment shifted hard in the other direction in 2022.

(NYSE: TWLO) and Cloudflare (NYSE: NET) are both up substantially this year, but the growth stocks remain far below their pandemic-era peaks. Here's why both are positioned for comebacks over the long run.

Shares of cloud messaging platform provider Twilio are down a whopping 85% from their pandemic-era high. Revenue growth has slowed dramatically as Twilio's customers pull back on spending in a tough economy. While Twilio booked 61% revenue growth in 2021, the top line expanded by just 35% in 2022.

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Source Fool.com