The tech sector is expected to witness solid growth amid digitization across industries and the adoption of advanced technologies as business try to scale and innovate. The U.S. tech market accounts for 35% of the total world market. So, fundamentally sound stocks, Dropbox, Inc. (DBX), Spirent Communications plc (SPMYY) and AudioCodes Ltd. (AUDC) could be great investments now.
According to the latest forecast by Gartner, Inc, worldwide IT spending is projected to total $4.50 trillion this year, an increase of 2.4% from 2022. “While inflation is devastating consumer markets, contributing to layoffs at B2C companies, enterprises continue to increase spending on digital business initiatives despite the world economic slowdown,” said John-David Lovelock, Distinguished VP Analyst at Gartner.
