The Nasdaq-100 Technology Sector index is up 37.4% so far in 2023, putting last year's forgettable performance in the rear window. The jump can be attributed, in part, to the disappearance or significant reduction of multiple headwinds that hit tech stocks in 2022.

Cooling inflation, a resilient economy, and the expectation of interest rate cuts by the Federal Reserve in 2024 have been tailwinds for tech stocks in 2023. At the same time, the enthusiasm for recent advances in artificial intelligence (AI) gave investors another reason to once again pursue these stocks, hoping to take advantage of technology's ongoing ability to revolutionize multiple industries.

The broader rally in tech stocks rubbed off positively on shares of ASML (NASDAQ: ASML) and (NASDAQ: CRWD) as well. These companies are on track to take advantage of massive end-market opportunities that should allow them to sustain high levels of growth for a long time to come.

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Source Fool.com