The past couple of months have been challenging for the tech industry due to the Fed's hawkish stance and sky-high inflation rates. Furthermore, an escalating war between Russia and Ukraine has aggravated the market’s volatility, causing the tech-centric Nasdaq Composite index to enter bear market territory, registering an 11.2% decline year-to-date. Amid these macro headwinds, there were massive selloffs in the tech sector.
But following the selloffs, numerous attractive buy-the-dip opportunities have been presented to investors. With increasing digitalization and tech dependence, fundamentally strong tech companies have great growth prospects over the long term. The shares of many companies in the sector are well-positioned to rebound in the near term, thanks to the sustained demand for tech products and solutions.
