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StockNews.com
StockNews.com
Business
RashmiKumari

2 Tech Stocks Ready to Help You Make Money in the Long Term

Microsoft CVLT US Federal Reserve CSCO Microsoft Corporation

Amid the Fed’s consecutive rate hikes, tech stocks have witnessed a freefall in 2022. The interest rate-sensitive and tech-heavy NASDAQ Composite has lost 30% year-to-date. However, Philadelphia Federal Reserve President Patrick Harker expects the Fed will stop hiking rates by 2023.

Moreover, the demand for tech goods and services is expected to intensify in the coming years. Rapid digitization across industries is expected to keep the tech industry buoyed. According to Gartner, IT demand is expected to be strong in the coming year as enterprises push forward with digital business initiatives in response to economic turmoil.

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