(CNBC) -- The Nasdaq Composite hit a record high on Tuesday as strong gains in Amazon and a rebound in Netflix shares led to a big comeback in tech stocks.
The tech-heavy Nasdaq rose 0.7 percent, after falling as much as 0.7 percent, as Amazon reached an all-time high. Meanwhile, Netflix traded just 5.2 percent lower after falling as much as 14.1 percent earlier in the session.
Netflix initially plunged after reporting weaker-than-expected subscriber growth. The streaming giant said Monday afternoon that domestic subscribers grew by 670,000 in the previous quarter, while international additions rose by 4.5 million. Analysts polled by StreetAccount expected domestic gains of 1.23 million and 5.11 million new international subscribers.
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