Technology stocks are leading the market once again. While things have gotten a little messier since the January rally that kicked off the year, the tech-laden Nasdaq index remains up 10% in 2023. Tech stocks are rebounding following a brutal selloff in 2022 that dragged the Nasdaq lower by more than 30%. Many tech stocks have surged greater than 40% in a matter of weeks as investors’ appetite for risk improves and they rotate out of cyclical stocks and back into high-growth securities. While the bear market that has gripped Wall Street since November 2021 may not be over just yet, there are signs that technology is back on the radar of investors and that the worst might be behind us. With that in mind, here are seven high-growth tech stocks to keep your eyes on in the coming weeks and months.

Alibaba (BABA)

Chinese tech stocks have been on the rise this year as the country’s economy finally recovers from Covid-19 and as Chinese authorities let up on their crackdown of  publicly traded technology firms. One of the chief beneficiaries of the reversal of China-based tech stocks has been Alibaba (NYSE:BABA), arguably China’s leading and best-known tech firm. Between the end of October and the end of January, BABA stock rose 90% to a peak of $120 a share.

BABA stock has pulled back in recent weeks, presenting a decent entry point for investors. With Alibaba, shareholders get one of China’s most advanced tech companies that is a global leader in everything from e-commerce and the Internet of Things to artificial intelligence.

Moreover, in recent  quarters, the company’s earnings have surpassed analysts’ average estimates. Alibaba’s stock got a vote of confidence recently when it was revealed that it was one of the few securities bought by a notorious  bear, Michael Burry, during the fourth quarter of last year.

Qualcomm (QCOM)

Another tech stock that has been marching higher and seems poised for more gains is Qualcomm (NASDAQ:QCOM). The San Diego-based company manufactures the semiconductors that are critical for 5G networks and the mobile phones that run on them. The demand for the company’s products is sky-high right now as 5G networks expand and become widely used within the industry. The red-hot demand explains why QCOM stock has risen 13% in 2023.

A mature company that has been around since 1985, QCOM today trades at a moderate price-earnings ratio of 12, which is low for a technology firm of its size.

The stock also pays a robust quarterly dividend that yields 2.4%. It’s also unusual for a tech stock to pay a significant dividend. But Qualcomm is facing a slowdown in mobile phone sales, which led the company to report subpar earnings.

In its latest reported quarter, its revenue sank 12% year-over-year to $9.46 billion, and its net income fell 27% to $2.68 billion or $2.37 per share.

But don’t count out QCOM stock over the long-term because it remains a leader of the 5G internet boom.

Micron (MU)

Micron Technology’s (NASDAQ:MU) fortunes have also improved during the first few months of 2023. So far this year, MU stock is up 14%. It’s a welcome change for the company that makes computer memory and data storage technology such as USB flash drives. Even with this year’s gains, Micron Technology’s share price remains down 35% over the last 12 months. With a P/E ratio of 10.3, the stock looks undervalued at its current levels.

This year’s gains come as the company undertakes aggressive cost-cutting measures that have included layoffs of 10% of its workforce, a 40% reduction of its capital expenditures, and a suspension of the bonuses for its executives.

Like many technology companies, Micron has struggled due to a a slowdown of computer sales and manufacturing disruptions in China over the past year. However, the company expects its supply-demand imbalance to be fixed later this year and is forecasting that its revenue will grow 43% year-over-year in 2024 as it returns to profitability.

Meta Platforms (META)

Meta Platforms’ (NASDAQ:META) plans for a “year of efficiency” seem to have won over both analysts and investors. Since the social network released its fourth-quarter results, boosted its stock-buyback program, and announced plans to achieve efficiencies while dialing back spending, the company’s share price has been ripping higher. So far in 2023, META stock has gained 42%. The stock bottomed in early November at $88 per share.

Meta’s plans to scale back its previous “growth-at-all costs” strategy and behave more like a mature company seems to be what Wall Street wanted to hear. The company’s stock was also driven higher by its plans to lay off 11,000 workers and plow less money into the Reality Labs unit that is developing virtual-reality technology to develop the metaverse.

In 2022, Meta lost nearly $14 billion on Reality Labs. Many investors are hoping the company will return its focus to its bread-and-butter, online-ad business moving forward.

Nvidia (NVDA)

The news keeps getting better for semiconductor company Nvidia (NASDAQ:NVDA). Hot on the heels of several  upgrades by analysts, Nvidia is being touted as a leader in artificial intelligence, with its chips expected to power the most advanced AI on the planet. And news just broke that Microsoft (NASDAQ:MSFT) has signed a decade-long deal to bring Xbox PC games to Nvidia’s GeForce Now game-streaming service, in what amounts to a major boost for Nvidia’s games business.

The spate of good news has dramatically improved the sentiment of investors towards Nvidia and its stock. So far this year, NVDA stock has gained 42%.

The stock had been as high as $230 a share in February. After the company reported better-than-expected Q4 results, propelled by its gaming business, it appears that NVDA has put the demand and supply chain problems of the past year behind itself and can now focus more on the advanced semiconductors and microchips it makes that power everything from data centers to supercomputers.

Salesforce (CRM)

It’s been a tumultuous time at cloud-computing giant Salesforce (NYSE:CRM). The San Francisco-based company has struggled to meet earnings expectations, its co-CEO abruptly quit last November, and it has been targeted by multiple activist investors who want to see major structural changes and a turnaround of its business. Its current CEO, Marc Benioff, has had a lot on his plate since last summer. However, all the tumult seems to have been good for CRM stock, which has risen 23% so far this year.

Investors seem to be betting that sunnier days are ahead for Salesforce and that the ship will be righted in due course. Getting there won’t be easy, as the company announced that it is eliminating 8,000 staff or about 10% of its workforce. That’s big news, considering that Salesforce is the largest private-sector employer in San Francisco, while its headquarters is the city’s tallest building.

Still, investors have signaled that they approve of the changes that Benioff is making at Salesforce and his initiatives that have made the company leaner.

Roblox (RBLX)

The shares of video-game developer Roblox (NYSE:RBLX) have been on an upswing since the California-based company announced fourth-quarter earnings that trounced analysts’ average expectations.

Roblox reported a loss per share of 48 cents, above analysts’ average estimate of a per-share loss of 54 cents. The company’s revenue came in at $899.4 million, above the $881.4 million that analysts, on average, had expected, according to Refinitiv.

However, what really stood out in the Q4 numbers was that Roblox had 58.8 million average daily active users, up 19% from the same period a year earlier.

The Q4 print resulted in RBLX stock rising 26% in a single trading session. In 2023, the share price is up 32%. The company, while still unprofitable, remains in growth mode, announcing that users spent more than 12.8 billion hours engaged with its online video-game platform during Q4, up 18% from the final quarter of 2021. That’s a positive sign for the company’s future.

On the date of publication, Joel Baglole held long positions in MSFT and NVDA. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.