The tech sector was hit hard in 2022 due to the Fed's relentless rate hikes. Moreover, in the face of uncertain economic conditions, employment cutbacks in the IT sector have been increasing.
However, Wedbush analyst Dan Ives predicts a 20% increase in tech stocks in 2023. In addition, according to Gartner, Inc. (IT), worldwide IT spending is expected to reach $4.50 trillion in 2023, a 2.4% increase over the previous year.
