Have the bears gone into hibernation? That appears to be the case with the Nasdaq Composite Index -- for now, at least.

The Nasdaq bear market that began only a few months ago seems to be over. Many investors consider a bear market to be over when stocks are no longer down by 20% or more. In recent days, the Nasdaq Composite Index has moved above that threshold.

Some would argue that the Nasdaq is actually in a bull market now. The index is up more than 20% since reaching a low on June 16, 2022. Others might prefer to wait before declaring a bull market to make sure the recent gains don't evaporate.

Here are three stocks to buy in a new Nasdaq bull market -- whether we're already in one or it's right around the corner.

1. Apple

Apple (AAPL -0.60%) ranks as one of the top stocks helping drive the market rebound. It's the biggest component of both the Nasdaq Composite Index and the S&P 500. And Apple has been on a roll in recent weeks.

If the Nasdaq bull market gains steam, it's likely that Apple will continue to be a big part of the momentum. There are several good reasons to think that the giant tech stock will indeed keep rising.

For one thing, Apple expects that its revenue growth will accelerate in the third quarter of 2022. The company doesn't think that the supply chain issues that have caused problems so far this year will be as significant. Apple also could deliver an especially strong Q4 after the anticipated launch of iPhone 14 in September.

More importantly, though, Apple's long-term prospects remain bright. The company's iPhone ecosystem continues to attract customers. Apple also has growth opportunities in augmented reality and increased 5G adoption.

2. MercadoLibre

The sell-off of growth stocks hit MercadoLibre (MELI 1.09%) especially hard. The e-commerce stock plunged as much as 68% below its peak at one point. However, MercadoLibre is now on a tear.

Despite facing some stiff macroeconomic headwinds, MercadoLibre delivered tremendous Q2 results. It blew away analysts' revenue and earnings estimates with net revenue soaring nearly 57% year over year. 

MercadoLibre's e-commerce opportunity in Latin America continues to grow. The company is capitalizing on this opportunity by improving its online functionality as well as reducing delivery times. Fintech offers another big and growing market for MercadoLibre. Many people in Latin America don't have full access to traditional financial services.

MercadoLibre CFO Pedro Arnt said in the company's Q2 call that advertising is only "beginning to scratch the surface of its potential." Advertising isn't just a revenue growth driver with the e-commerce platform; the company is also testing ways to support advertising on its Mercado Pago digital payment platform.

3. Vertex Pharmaceuticals

Vertex Pharmaceuticals (VRTX 2.86%) hasn't needed a rebound. Unlike most stocks, Vertex never dipped into negative territory at all this year. The biotech stock is up more than 35% so far in 2022. 

Even if the Nasdaq bull market doesn't have legs, Vertex should be a great stock to buy. The company's business isn't impacted very much by inflation or higher interest rates. Vertex commands a monopoly in treating the underlying cause of cystic fibrosis (CF). No other potential rival is even beyond phase 2 clinical testing at this point.

Vertex definitely has plenty of room to grow in the CF market. However, it has other opportunities that could deliver even stronger growth. 

The big biotech plans to file for regulatory approvals of exa-cel beginning later this year. This gene-editing therapy, developed with partner CRISPR Therapeutics, holds the potential to cure sickle cell disease and transfusion-dependent beta-thalassemia. Vertex's pipeline also includes several other promising programs.