Last year, the tech industry incurred huge losses amid inflationary pressures, aggressive interest rate hikes by the Federal Reserve, and layoffs. As reported in November 2022, the tech industry had already lost a massive $7.40 trillion in a year.
However, the industry is poised to grow in the foreseeable future. There has been a rising demand for advanced tech solutions and increased investments due to rapid digitalization, which should aid quality tech stocks in the long run.
