The software industry has remained under pressure so far this year amid an ongoing tech sell-off. The Fed’s hawkish tilt, coupled with surging market volatility, have caused the benchmark Nasdaq Composite index to slump 12.5% year-to-date and 11.6% over the past three months.
Nonetheless, overwhelming demand with respect to the software industry continues unabated, thanks to rapid digitization and remote lifestyles. So cheap, undervalued software stocks with strong revenue growth prospects might be ideal bets now, given the strong industry tailwinds.
