The technology industry has borne the brunt of the Fed’s aggressive interest rate hikes this year. Concerns over rising borrowing costs and slowing demand have led to tech stocks witnessing a massive sell-off. The tech-heavy Nasdaq Composite has fallen 28.4% year-to-date.
Thanks to the rapid advancement of technology solutions to match the changing consumer preference in this digital era, the industry is poised for a solid recovery in demand soon. The information technology market is expected to grow at a CAGR of 8.8% to reach $13,092.49 billion in 2026.
