While the broader macroeconomic challenges have kept the tech industry under pressure since last year, rapid digitalization and increasing demand for advanced technologies should help the industry rebound in the foreseeable future. Given this backdrop, I think Salesforce, Inc. (CRM) might be worth investing in right now for reasons mentioned throughout this piece.
The Fed’s aggressive interest rate hikes to tame sky-high inflation have created massive pressure on the tech industry by making borrowing costlier. The tech-heavy Nasdaq Composite plunged 12.3% over the past year. However, with an increasing focus on emerging technologies such as Artificial Intelligence, cloud computing, Robotic Process Automation, AR, and VR, the industry is well-positioned to witness significant growth.
