The new year is still young, but it has already featured a far better investing environment than 2022 was for technology investors. The tech-heavy Nasdaq Composite index has risen 3.7% so far in 2023.

Taiwan Semiconductor Manufacturing (NYSE: TSM) and Semrush Holdings (NYSE: SEMR) are also performing better so far this year. After experiencing drops of 38% and 61% last year, respectively, Taiwan Semi has jumped nearly 19% in 2023 while shares of Semrush are roughly flat.

Some analysts see an upside for both of these stocks for the rest of the year. The median price target from analysts over the past month for Taiwan Semi is $103, implying a 9% upside from the company's stock price as of this writing. Piper Sandler analyst Clarke Jefferies envisions an even better 12 months from Semrush, with a price target of $14, implying a 75% upside.

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Source Fool.com