The Nasdaq Composite reigned as the clear winner among the three major averages in the first quarter of 2023, surging nearly 15% after the worst year for the index since 2008 . The gains came from beaten-up technology stocks that struggled last year as interest rates rose and yields pushed higher, denting their lofty valuations. The Nasdaq-100 , a narrower subset of the Nasdaq Composite, also suffered keenly in 2022, with a decline of nearly 33%. It's up 18% in 2023.
mountain Meta Platforms shares so far this year A handful of chip stocks also met the criteria, including GlobalFoundries and Analog Devices . Semiconductors have bounced back in the first quarter, with the S & P 500 industry group tracking the space gaining about 34% this year. Earnings per share estimates for both stocks are up 10% and 13.4%, respectively, within the last three months. Truck maker Paccar and Cadence Design Systems also made the list.
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