3 Standout Tech Stocks That Hit New Highs in August

Following a roughly 33% decline in 2022, the Nasdaq Composite ($NASX) has bounced back quite nicely in 2023. Fueled by optimism over the rising prevalence of artificial intelligence (AI), the tech-heavy index recorded its strongest first-half gains in four decades.

However, the Nasdaq has pulled back since peaking in mid-July, pressured by a mixed earnings season and concerns over the prospect of additional rate hikes. While the index has recovered from its August lows, it's still off about 2% from its July highs.