Equities have endured a painful year so far due to heightened inflation and the prospects of a recession. Tech stocks have fared poorly due to the Fed’s aggressive monetary tightening to bring prices down. The tech-heavy Nasdaq Composite Index has declined 29.5% year-to-date, marking its worst first half of the year ever.
Technology is changing fast, and organizations are investing in shoring up their digital capabilities irrespective of the market downturns and unprecedented global events. Investments in digitization from various sectors to keep up with the fast-changing business environment are expected to generate substantial revenues for tech companies in the long run.
