2023 was a year of recovery after an economic downturn in 2022 triggered a dramatic sell-off that saw the Nasdaq Composite plunge 33%. The challenging period highlighted vulnerabilities in many companies' business models as they suffered repeated revenue declines.

However, macroeconomic headwinds also showcased the strength of companies that successfully navigated the market downturn. In 2023, the Nasdaq Composite rose more than 40%, driven by growth from a few key stocks.

Tech stocks have played a crucial role in the market's recovery, as advances in areas like artificial intelligence (AI) and cloud computing made Wall Street particularly bullish. Tech is one of the most reliable industries, with its stocks never down for long. As a result, the period after a market downturn could be one of the best times to invest in the lucrative industry.

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Source Fool.com