The ever-developing nature of the tech market makes it one of the most reliable ways to enjoy consistent gains. In fact, the Nasdaq-100 Technology Sector index rose 340% over the last decade, with many companies enjoying substantially larger rises in that time.

When choosing tech stocks, finding companies active in high-growth industries is a smart move. This year, emerging markets like artificial intelligence (AI) and virtual/augmented reality (VR/AR) could be some of the biggest winners. As a result, Nvidia (NVDA -0.18%) and Apple (AAPL 1.67%) are immensely compelling buys thanks to their leading roles in these sectors. Here's more about two of the smartest tech stocks to buy in 2023 and beyond. 

1. Nvidia

Nvidia has featured in many headlines over the last few years, with its stock skyrocketing amid the COVID-19 pandemic, then crashing back down in 2022 as it struggled from macroeconomic headwinds. This year, investors have grown bullish over the company again, with its stock up about 90% year to date thanks to its prospects in the future of AI.

According to Statista, the AI market will hit $208 billion in 2023 and is projected to expand nearly 800% to $2 trillion by 2030. Meanwhile, Nvidia is in a prime position to profit significantly from that growth thanks to its lucrative chip business. 

A recent AI boom was kicked off in November 2022 with OpenAI's launch of ChatGPT, an advanced chatbot capable of producing human-like dialogue. Nvidia's role comes in as the primary supplier of graphics processing units (GPUs) to ChatGPT. These units are crucial to running and creating AI software. According to research from TrendForce, the OpenAI platform used about 20,000 GPUs in 2020, with that figure expected to rise to 30,000 as ChatGPT prepares for commercialization. As a result, Nvidia could enjoy massive boosts to revenue as demand for its GPUs soars.

Moreover, ChatGPT's success has attracted many other companies, with several competing AI services now under development. Nvidia's ability to supply GPUs to the whole market makes its stock more attractive. The company's potential is evident by its price/earnings-to-growth ratio of 0.4, which suggests its projected stock growth is not currently priced into its shares.

Nvidia's stock is one of the smartest tech stocks to buy this year and beyond. 

2. Apple

Apple's stock is almost always a great pick, thanks to its reputation for consistent growth. The company's stock has risen around 310% in the last five years and more than 970% over the last decade. The company's dominance across various areas of consumer tech has grown its brand loyalty and given it the financial resources to expand its business. 

In 2023, Apple is expected to venture into the VR/AR market for the first time by releasing a new headset. A report from Bloomberg last month states the company will likely debut the product in June, with the VR/AR device offering a variety of features from games to fitness services, a book reading app, and more.

A totally new product launch for Apple is always an exciting time for investors, based on its past success when entering new markets. The company has a proven talent for taking existing technology, adding its Apple touch, and boosting it into mainstream use as it steals a leading market share. The company has done just this with smartphones, tablets, smart watches, and even headphones. 

If Apple can do the same with VR/AR, it will become the leader of a $37 billion industry, projected to expand at a compound annual growth rate of 25% through 2027. Its stock could soar alongside that growth. 

With the headset's expected launch just around the corner, now could be the perfect time to add this tech stock to your portfolio.