The tech industry has been under pressure due to the Fed’s rate hikes to tame inflation, recession concerns, and layoffs. Therefore, we think IonQ, Inc. (IONQ), Fathom Digital Manufacturing Corporation (FATH), and Rigetti Computing, Inc. (RGTI), which have been slumping in price, might be best avoided now.
The International Monetary Fund (IMF) forecasts a slowing of global growth. This might damage the tech industry's near-term prospects. Global IT spending has been weakening amid this scenario.
