Tech stocks have fared poorly this year due to the Fed’s aggressive interest rate hikes to tame the multi-decade high inflation. The tech-heavy Nasdaq Composite has declined 21% year-to-date.
Although the macro environment is expected to remain challenging in the upcoming months and hurt the industry’s financials, significant price declines of tech stocks offer attractive buying opportunities for long-term investors. Moreover, many analysts expect the bearish sentiment to ease out in the second half of the year, thanks to the better-than-expected corporate earnings.
