The stock market is off to a terrific start in 2023, with the S&P 500 index gaining 8% so far. It would not be surprising to see the market head higher as the year progresses amid signs of a stabilizing U.S. economy and because of indications that the Federal Reserve is likely to slow the pace of interest rate hikes in response to cooling inflation.
This economic positivity is now being seen in the share prices of Meta Platforms (NASDAQ: META) and Taiwan Semiconductor Manufacturing (NYSE: TSM) , popularly known as TSMC, as well. Meta stock is up a whopping 53% so far in 2023, while shares of foundry giant TSMC have jumped nearly 28% this year.
Even with the recent price jump, shares of both companies continue to trade at attractive levels. Let's look at the reasons why these tech stocks should be able to sustain this momentum and keep heading higher.
For further details see:
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