Tech stocks have been making a comeback after being hard hit by the extended market weakness earlier this year. This is evident in the benchmark tech-heavy Nasdaq Composite index's 10.3% gains over the past five days. The latest Fed rate increase hike caused equities to gain momentum, because investors and economists have been predicting the rate increase for quite some time.
With the pandemic necessitating more remote work, internet usage is increasing at an extraordinary rate worldwide. However, technology access is becoming cheaper each day despite the skyrocketing inflation rates. In fact, broadband prices have declined over the past five years. Furthermore, with companies adopting hybrid working models globally and integrating more advanced technology, the demand for high-speed internet connections is expected to grow.
