The tech-heavy Nasdaq 100 index (.NDX) has gained over 3% in 2023, double the rise for the S&P 500 (.SPX).
The Nasdaq 100 fell 33% in 2022, while the S&P 500 lost 19.4%.
Apple, the largest U.S. company by market value, and Google-parent Alphabet report the following week.
Fourth-quarter earnings in the tech sector are expected to have declined 9.1% from a year ago, compared to a 2.8% decline for S&P 500 earnings overall, according to Refinitiv IBES.
The S&P 500 tech sector still trades at a roughly 19% premium to the broader index, above its 7% average of the past 10 years, according to Refinitiv Datastream.