There’s no question that tech stocks have taken a drubbing this year. Among the three major U.S. indices, the technology-laden Nasdaq is down the most, having fallen 29% since Jan., firmly entrenched in a bear market. It seems that no corner of the tech sector has been spared from the selloff. However, there are reasons to believe that the tech wreck is coming to an end and that many technology stocks could come roaring back during 2023. Here are seven technology stocks that could come roaring back.

AAPL	Apple	$148.79
AMZN	Amazon	$97.12
META	Meta Platforms	$113.23
CRWD	CrowdStrike	$143.65
GOOGL GOOG	Alphabet	$98.85
AMD	Advanced Micro Devices	$72.70
CRM	Salesforce	$155.12

Tech Stocks: Apple (AAPL)

We can’t have a complete list of tech stocks without Apple (NASDAQ:AAPL). This consumer electronics giant has seen tough times since it was founded in 1976. It nearly went bankrupt in the mid-1990s before co-founder Steve Jobs threw it a lifeline. Since then, the company has remained resilient in the face of many challenges, while managing to return great value to shareholders.  While AAPL stock is down 18% this year at right around $150 a share (mirroring the YTD decline in the S&P 500), the stock is flat over the past 12 months, up 253% in the last five years, gained 733% since 2012, and delivered a return of 107,000% to shareholders since its initial public offering in 1982. Clearly, the company and its stock are built for the long haul.

At the same time, Apple continues to dominate the technology we use in our everyday lives, from the iPhone to the Apple Watch and MacBook computers. The median price target on AAPL stock is $176, which is nearly 20% higher than where the stock is currently trading.

Tech Stocks: Amazon (AMZN)

Amazon (NASDAQ:AMZN) expanded too aggressively during the Covid-19 pandemic when shopping online became a necessity. The latest news is that the Seattle-based e-commerce giant is planning to lay off as many as 10,000 employees in corporate and technology positions as it seeks to lean out its operations. This after already laying off more than 100,000 staff globally this year.

The corporate diet is intensifying after Amazon reported a string of disappointing earnings. In its third quarter, Amazon delivered lackluster results that fell short of Wall Street expectations and offered weak guidance for the current fourth quarter, which includes the typically lucrative holiday sales season. Amazon blamed the usual suspects for its poor showing: supply chain issues, inflation, rising interest rates, and a return to in-store shopping.

While the reasons are no doubt legitimate, the situation at Amazon, including its ongoing cost cuts, has played havoc with the company’s share price. So far in 2022, AMZN stock has fallen 42% to trade at just under $100 a share. While disappointing, there is no reason to believe that the current problems at Amazon will become systemic. Many analysts are calling AMZN stock the best one to buy right now. And the median price target on the shares is $137, which is 36% higher than current levels.

Tech Stocks: Meta Platforms (META)

Shares of Meta Platforms (NASDAQ:META) are attempting to roar back from an earnings shortfall. All after abysmal earnings, which included a massive $9 billion loss for its Reality Labs unit. META stock seemed to be going down the drain, having fallen more than 70% on the year and leading declines in the S&P 500 index, when the company’s fortunes suddenly reversed. The catalysts have been Meta Platforms announcing that it is laying off 13% of its staff, and an October inflation reading that showed consumer prices may have peaked in the U.S.

The current upswing has many analysts claiming that META stock has bottomed and is now in full recovery mode. While those claims might be premature, there’s no doubt that Meta Platforms seems to be heeding concerns on Wall Street and cutting costs. The median price target on the stock is $141, implying at least 25% upside.

CrowdStrike (CRWD)

With shares of CrowdStrike (NASDAQ:CRWD) down 44% over the last 12 months, investors are writing off the cybersecurity industry. I’m not one of those people. We have to remember that cybersecurity is becoming more important than ever. Fortune Business Insights forecasts that the global cybersecurity market is projected to grow from $155.83 billion this year to $376.32 billion by 2029, for a compound annual growth rate (CAGR) of 13.4%.

Better, companies such as CrowdStrike continue to lead the way when it comes to cybersecurity technology used to safeguard leading companies around the world. Protecting an organization’s data, intellectual property, and finances are not viewed as a discretionary item and something all organizations large and small have to invest in. This reality helps explain why CrowdStrike has continued to outperform on the earnings front.

In its most recent quarterly print, CrowdStrike announced revenues of $535.15 million, representing year-over-year growth of 58.5%, as well as earnings per share of 36 cents, which was up 227% from 11 cents a year earlier. The EPS was nearly 30% better than Wall Street analysts had forecast. Once investors catch up with CrowdStrike’s monster growth, the company’s shares should come roaring back. The median price target on CRWD stock is $235, which would be 64% higher than the current levels.

Alphabet (GOOGL, GOOG)

In its third quarter, Alphabet (NASDAQ:GOOGL / NASDAQ:GOOG) reported its worst earnings miss in more than a decade. Earnings per share of $1.06 missed Wall Street’s EPS forecast of $1.25, according to Refinitiv data. Revenue in Q3 amounted to $69.09 billion compared to the $70.58 billion which was anticipated. The big miss was blamed on a sharp decline in online advertising revenue, particularly at the company’s YouTube division, where revenue came in at $7.07 billion compared to the $7.42 billion that was expected.

Investors were having none of it and pushed down GOOGL stock by 6% on news of the latest results. The company’s share price is now down 34% on the year and trading at $96 a share. While disappointing, there’s no reason for long-term investors to throw in the towel on the parent company of search engine Google. On the contrary, the share price has rarely been this attractive since Alphabet held its IPO back in 2004. A 20-for-1 stock split this past summer has only helped the affordability, particularly for retail investors.

Reasons to remain bullish on Alphabet and to expect GOOGL stock to come roaring back include the fact that the company’s cloud computing unit continues to fire on all cylinders, posting a better-than-expected at $6.90 billion of revenue in Q3, and the company is in the process of issuing a slate of new consumer electronic products, including its first-ever Pixel Watch. The median price target on GOOGL stock is $125 or nearly 30% above where the shares currently sit.

Advanced Micro Devices (AMD)

Shares of semiconductor companies have been among the hardest hit in the current market downturn. Slowing sales of personal computers (particularly in China), global supply chain problems, and rising interest rates conspired to hurt stocks of companies such as Advanced Micro Devices (NASDAQ:AMD), which remains down 50% this year and trading at just under $74 a share. However, in the last month, semiconductor stocks have come roaring back, outpacing gains in the broader market.

AMD’s stock has risen 28% in the past month after having bottomed at $55 per share in mid-October. As investor confidence and market sentiment improve, people are again starting to believe in the long-term growth potential of semiconductor makers such as Advanced Micro Devices. At the same time, AMD has issued a series of new semiconductors and microprocessors that has analysts predicting robust sales and profits in the months ahead.

The median price target on AMD stock is currently $85, which would be 17% higher than where the shares currently trade.

Salesforce (CRM)

One of the largest cloud computing companies, Salesforce (NYSE:CRM), has declined 48% in the past 12 months. At $158 a share, CRM stock is trading at the same level it was at in 2019 before the global pandemic hit. Like many of the tech stocks on this list, Salesforce and other cloud computing securities have been driven lower by fears of a slowdown in demand.

Weak forward guidance has also dinged CRM stock this year. The company managed to beat Wall Street expectations in this year’s second quarter and announced that it’s buying back $10 billion of its own stock. But lowered full-year guidance made investors and analysts nervous, pushing the stock down as a result. However, here too there are signs that Salesforce’s stock could come roaring back. Since the October inflation numbers came in better than expected, CRM stock has rallied nearly 10%. There are also indications that corporate spending on cloud computing services is on the rise.

The median price target on CRM stock is $215, which is 36% above where the shares are currently changing hands.

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