The tech sector has retreated since the beginning of the year. The Fed’s decision to raise interest rates several times this year has made investors question the sector’s growth prospects. However, an increasing societal dependence on the digital world is projected to make the demand for technology solutions near inelastic.
The metaverse frenzy has begun to gain traction and is being hailed by global tech giants as the future of technology. According to ReportsandData, the global metaverse market is expected to reach $872.35 billion by 2028, growing at a 44.1% CAGR. Because increasing numbers of companies are jumping into the metaverse bandwagon, many fundamentally sound stocks have yet to be identified by many investors.
