Shares of streaming TV platform company (NASDAQ: ROKU) have had a great year, crushing both the S 500 and the Nasdaq Composite. The stock rose 57.1% during the first half of the year, according to data provided by S&P Global Market Intelligence. But a big boost in July has taken the stock's total return in 2023 to more than 87% as of this writing.

The stock has benefited from a number of factors, including strong momentum in tech stocks overall, a rebound in the stock after a huge sell-off last year, the launch of Roku-branded TVs, and a series of important advertising partnerships.

Capturing the market's hype for tech stocks, the tech-heavy Nasdaq Composite has risen a total of 33% this year, easily beating the S 500's 16.5% gain during this same period. This lift in tech stocks has undoubtedly been a tailwind for Roku's shares.

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Source Fool.com