Let's talk about the 800-pound bear in the room. Nearly 14 months after the decline began, the Nasdaq Composite remains caught in bear market territory, down 31% from its peak reached in late 2021. Investors are looking for a light at the end of the tunnel -- and hoping it isn't a train.

Here's the good news. The likelihood that the Nasdaq will suffer a second-consecutive down year is extremely remote. The tech-centric index has only suffered back-to-back declines twice going all the way back to its debut more than 50 years ago.  The data further suggests that the Nasdaq could rebound sharply over the coming year, having returned 34%, on average, in the first positive year following a decline. This bodes well for the technology stocks that make up the index.

If the Nasdaq does recover in 2023, MercadoLibre (NASDAQ: MELI) and Nvidia (NASDAQ: NVDA) are two stocks investors will want in their portfolios. Here's why.

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Source Fool.com