It has been a roller coaster ride for the stock market this year amid the geopolitical war, rising inflation, and the Fed’s aggressive stance to tame inflation. Investors’ pessimism had led the tech-driven Nasdaq Composite into the correction territory. The Nasdaq 100, comprising 100 most actively traded non-financial companies listed on the Nasdaq exchange, slumped more than 20% year-to-date.
However, the sell-off has led several fundamentally sound tech stocks to trade at attractive valuations, providing the opportunity to scoop up these stocks. Amid rapid global digitalization, the growing market for advancing technologies like Artificial Intelligence (AI), the Internet of Things, and the 5G network is expected to boost tech stocks in the near future.
