The tech sector was hit the hardest in 2022 amid the Fed’s aggressive rate hikes and fears of a possible recession. The tech-heavy Nasdaq Composite lost 18.7% over the past year. Moreover, job cuts in the tech space have been mounting in the face of uncertain economic conditions.
However, experts predict that rising demand for advanced tech solutions due to rapid digitalization across various industries and rising investments would cause substantial growth in the tech industry this year despite lingering macro headwinds.
